Business

Business, 29.07.2019 06:00, fickllyd000

Which is not an example of a product cost? cost of goods purchased for resale. commissions paid on goods sold last month. transit insurance on the goods purchased for resale. freight on goods purchased for resale?

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Business, 26.06.2019 05:20, brookekolmetz

Acompany that uses the perpetual inventory system purchased 500 pallets of industrial soap for $10,000 and paid $750 for the freight-in. the company sold the whole lot to a supermarket chain for $14,000 on account. the company uses the specific-identification method of inventory costing. which of the following entries correctly records the cost of goods sold? a.cost of goods sold10,750merchandise inventory10,750b.cost of goods sold10,000sales revenue10,000c.cost of goods sold10,000merchandise inventory10,000d.merchandise inventory10,750cost of goods sold10,750

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Business, 17.09.2019 00:00, lovabletenthasan

1200 units of product x 12,500 insurance cost during transit of purchased goods 200 freight-in 350 cost of labor to bring product x to saleable condition 3,200 total 16,250 none of the inventory was sold during the period. what will be the ending balance in pete co.’s inventory?

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Business, 20.09.2019 22:00, hannahliebl2000

Issued 28,000 shares of non-par common stock in exchange for $280,000 in cash. purchased equipment at a cost of $36,000. $9,000 cash was paid and a notes payable to the seller was signed for the balance owed. purchased inventory on account at a cost of $86,000. the company uses the perpetual inventory system. credit sales for the month totaled $110,000. the cost of the goods sold was $66,000. paid $4,000 in rent on the warehouse building for the month of march. paid $5,800 to an insurance company for fire and liability insurance for a one-year period beginning april 1, 2021. paid $66,000 on account for the merchandise purchased in 3. collected $49,500 from customers on account. recorded depreciation expense of $900 for the month on the equipment.

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Business, 10.10.2019 18:30, whitwelllife

Which of the statements below are correct regarding cost of goods sold? cost of goods sold is the price received from selling a product. cost of goods sold is an asset account reported on the balance sheet. cost of goods sold is the expense of buying and preparing merchandise. cost of goods sold can be determined by subtracting the cost of a merchandise sold from its sales price.

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