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Sheridan Inc., a retail store chain, had the following information in its general ledger for the year 2018. Merchandise purchased for resale $959,276 Interest on
Sheridan Inc., a retail store chain, had the following information in its general ledger for the year 2018.
Merchandise purchased for resale | $959,276 | |
Interest on notes payable to vendors | 9,419 | |
Purchase returns | 16,490 | |
Freight-in | 23,090 | |
Freight-out (delivery expense) | 17,892 | |
Cash discounts on purchases | 6,176 |
What is Sheridans inventoriable cost for 2018?
On this problem I got $965,876 but it tells me that is wrong.
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