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Please see attachment for the accounting questions. Accounting Questions: Alberta Company has net purchases of $75,000, purchase returns of $7,000 and purchase discounts of $4,000.
Please see attachment for the accounting questions.
Accounting Questions: Alberta Company has net purchases of $75,000, purchase returns of $7,000 and purchase discounts of $4,000. Alberta's gross purchases were: a. 72,000 b. 64,000 c. 78,000 d. 86,000 Ulra Company has sales revenue of $88,000, sales returns and allowances of $1,000, and sales discounts of $1,500. Ulra's net sales are: a. 87,000 b. 85,500 c. 90,500 d. 86,500 All of the following costs would be included in inventory EXCEPT for: A.taxes paid on the purchase price. B.advertising. C.insurance while in transit. D.freightminusin. Deciding on which inventory method a company should use affects: A.the income taxes to be paid. B.the profits to be reported. C.the values of ratios reported from the balance sheet. D.all of the aboveStep by Step Solution
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