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The following information for 2016 has been taken from the accounts of Tuttle Company.The company uses the periodic inventory method. Inventory, 31 December 2015 9.000
The following information for 2016 has been taken from the accounts of Tuttle Company. The company uses the periodic inventory method. |
Inventory, 31 December 2015 | 9.000 $ |
acquisitions | 41.000 |
Purchase returns and allowances | 700 |
Purchase discounts | 500 |
Freight terms for goods purchased under FOB shipping point | 1.700 |
Freight FOB target on goods sold under terms | 900 |
cost of goods sold | 29.400 |
According to this information, what will be the inventory as of 31 December 2016
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To calculate the inventory as of 31 December 2016 we need to use the formula Endi...
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