The following information applied to Magellan, Inc. for 2018: Merchandise purchased for resale$400,000 Freight-in$6,000 Freight-out $4,000 Purchase
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Question:
The following information applied to Magellan, Inc. for 2018:
Merchandise purchased for resale$400,000
Freight-in$6,000
Freight-out $4,000
Purchase Returns$3,000
What is Magellan's inventoriable cost?
options:
$387,000.
$407,000.
$400,000.
$403,000.
Expert Answer:
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