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متابعة

Cost of goods purchased is equal to?

Given

 

Purchase

 $92,100.00

purchase discount

 $  5,200.00

purchase return & allowance

 $  1,900.00

Freight in

 $  3,500.00

Beginning inventory

 $15,000.00

Ending inventory

 $17,500.00

A)  $102,700

B)   $95,600

C)  $81,500

D)  $88,500

E)   $86,000

 

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تم إضافة السؤال من قبل Ahmed Abdi Mahad , Director of Internal Auditing Directorate , Jigjiga University
تاريخ النشر: 2015/05/14
Abd ElRahman Mohammed Idris Mohammed
من قبل Abd ElRahman Mohammed Idris Mohammed , Internal Audit Manager , Kenana Sugar Company Limited

(D)88,500

Cost of goods purchased =92,100 -5,200 -1,900 +3,500 =88,500

Asad Ishaq
من قبل Asad Ishaq , Branch Accountant , Danube Company for Food Stuff and Commodities

its D )

       $88500As Freight in is added to stock value. and Any discount, allowance and return are decreased from value of stock purchased.

 

mohamed Hakim CMA CPA Candidate
من قبل mohamed Hakim CMA CPA Candidate , Accounting Manager , Andersen saudi arabia

Answer  : (D)  

COST of Goods Purchase = 92,100 - (5200 +1900 ) +  3500 =88,500

 

 

Mohamed Saad
من قبل Mohamed Saad , Finance Manager , RAFCO Automotive Company

Cost of Good purchased

= Purchase - purchase discount - purchase return & allowance + Freight in

=+3500

=88500

        

Lalrinmawia Pachuau
من قبل Lalrinmawia Pachuau , Accounts Officer , North East Rural Livelihood Project (World Bank Funded)

D)     $.....................................................................88500

 

Muhammad Zohaib
من قبل Muhammad Zohaib , Operations Manager , Meezan Bank Limited

Option 'D' is the correct answer!

Cost of goods purchased is:

$92,100 - ($5200+$1900) + $3500 = $88,500

Beginnig & ending inventory has nothing to do with the cost of goods purchased.

 

مستخدم محذوف‎
من قبل مستخدم محذوف‎

The correct answer is:

D) $88,500

Mirza Islah-ud-Din Taimuri
من قبل Mirza Islah-ud-Din Taimuri , Financial Controller , MOE’S TRANSPORT TRUCKING

Option D. is the answer of above question.

Sudhinlal M
من قبل Sudhinlal M , Digital Media Marketing Manager , Green Architects & Builders

Answer is C..............................................

Javed Iqbal
من قبل Javed Iqbal , Accounts Officer , Choti Textile Mills.

D IS THE CORRECT ANSWER =88500

Asad Ahmed
من قبل Asad Ahmed , Manager Finance & Company Secretary , Connect Communications Pvt. Ltd.

The cost of goods purchase is equal to $88,500