Question
Barty Crouch Jr Co. started 2021 with $83,000 of polyjuice potion inventory. During 2021, $550,000 in polyjuice potion was purchased on account with credit terms
Barty Crouch Jr Co. started 2021 with $83,000 of polyjuice potion inventory. During 2021, $550,000 in polyjuice potion was purchased on account with credit terms of 3/15, n/45. All discounts were taken. Barty Crouch Jr Co. paid freight charges of $8,100. Polyjuice potion with an invoice amount of $12,000 was returned for credit. Cost of goods sold for the year was $394,000. Barty Crouch Jr Co.uses a perpetual inventory system, records purchases using the gross method, and all purchases were made f.o.b. shipping point. What should Barty Crouch Jr Co. report for ending inventory? Group startsNumeric Response Numeric Response Group Ends
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