The Lothridge Wholesale Beverage Company purchases soft drinks from producers and then sells them to retailers. The
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The Lothridge Wholesale Beverage Company purchases soft drinks from producers and then sells them to retailers. The company began the year with inventory of $ on hand. During the year, additional inventory transactions include:
Purchases of inventory on account totaled $ with terms n
Freight charges paid by Lothridge were $
Inventory with a cost of $ was returned to suppliers for credit.
All purchases on account were paid within the discount period
Sales on account totaled $
Inventory remaining on hand at the end of the year totaled $
The above transactions are recorded in summary form according to the periodic inventory systems using the gross method. What is the cost of goods available for sale for the year?
Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
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