Alison's dress shop buys dresses from McGuire Manufacturing. Alison purchased dresses from McGuire on July 17 and received an invoice with a list price amount of $6,000 and payment terms of 3/10, n/30. Alison uses the net method to record purchases. Alison should record the purchase at:

$2,910.

$6,000.

$6,180.

$5,820.

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A company's inventory balance was $34,200 at the beginning of the year and $37,000 at the end. The inventory turnover ratio for the year was 4.7 and the gross profit ratio 30%. What were net sales for the year?

Note: Round your answer to the nearest dollar amount.

$167,320

$239,029

$173,900

$557,733

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Cinnamon Buns Company (CBC) started 2024 with $53,300 of inventory on hand. During 2024, $281,000 in inventory was purchased on account with credit terms of 3/10, n/30. All discounts were taken. Purchases were all made f.o.b. shipping point. CBC paid freight charges of $9,500. Inventory with an invoice amount of $2,400 was returned for credit. Cost of goods sold for the year was $301,000. CBC uses a perpetual inventory system.

What is cost of goods available for sale, assuming CBC uses the gross method?

$314,042

$341,400

$333,042

$343,800