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ler Company, a retail store chain, had the following information in its general ledger for the year 2020. Required: What is lers inventoriable cost for
ler Company, a retail store chain, had the following information in its general ledger for the year 2020.
Required: What is lers inventoriable cost for 2020?
Merchandise purchased for resale | $ 200,000 |
Interest on notes payable to vendors | 12,000 |
Purchase returns | 10,000 |
Freight-out (delivery expense) | 5,000 |
Cash discounts on purchases | 3,000 |
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