Question
What is the inventoriable cost of the purchase? virtue company provided the following data for the current year: merchandise purchased for resale.............................4,000,000 freight in....................................................................................100,000 freight
What is the inventoriable cost of the purchase?
virtue company provided the following data for the current year:
merchandise purchased for resale.............................4,000,000
freight in....................................................................................100,000
freight out.................................................................................50,000
purchase returns...................................................................20,000
interest on inventory loan..................................................200,000
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