Business, 27.04.2021 15:20 fardinhaque6113
Cinnamon Buns Co. (CBC) started 2021 with $52,500 of merchandise on hand. During 2021, $284,000 in merchandise was purchased on account with credit terms of 2/10 n/30. All discounts were taken. Purchases were all made f. o.b. shipping point. CBC paid freight charges of $9,800. Merchandise with an invoice amount of $3,000 was returned for credit. Cost of goods sold for the year was $302,000. CBC uses a perpetual inventory system. What is cost of goods available for sale, assuming CBC uses the gross method
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Cinnamon Buns Co. (CBC) started 2021 with $52,500 of merchandise on hand. During 2021, $284,000 in m...
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