uses the periodic method and has the following account balances: 12. NuCo hase R
ID: 2586946 • Letter: U
Question
uses the periodic method and has the following account balances: 12. NuCo hase Returns, $17,000; Beginning Inventory, $4,000; Purchases, rc 3,000; Freight-In,11,000, and Accounts Payable, $23,000. What are $19 NuCo's net purchases? a. $187,000 b. $191,000 e $183,000 d. $210,000 account balances: Purchase Returns, $19,000; WeCo has the following Purchases, $81 $21,000; Freight-In, $30,000; and Ending Inventory, $37,000. WeCo's cost of goods sold is.. 13. 12,000; Purchase Discounts, 38,000; Beginning Inventory, a. $769,000 b. $783,000 c. $815,000 d. $799,000 JiCo uses the periodic method. Its beginning inventory is $43,000, purchases are $321,000, F.O.B. destination, purchase returns are $17,000, and freight is $9,000. The balance in JiCo's ledger Purchases account is... 14. a. $330,000 b. $317,000 c. $321,000 d. $304,000 VaCo, which uses the periodic method, is preparing its year-end journal entry to record cost of goods sold. It debits all of the following accounts except.. 15. a. Cost of Goods Sold b. Beginning Inventory c. Purchase Discounts d. None of the above SeCo begins operations in 20X6 and uses the periodic method and weighted-average costing. SeCo has the following merchandise purchases during 20X6: 700 units in March @$4; 1,100 units in July@ $6; and 2,200 units in October$7. A physical count of ending inventory finds 1,000 units. Calculate the cost of goods sold. 16. a. $6,200b. $7,000 c. $18,600 d. $24,000 FoCo uses the periodic method and weighted-average costing. The cost of the 2,500 units in FoCo's 20X3 ending inventory is $32,500. FoCo has the following merchandise purchases during 20X4: 1,700 units in May@$14; 3,500 units in June@$19; and 2,300 in October@$21. Calculate the cost of the 1,200 units in ending inventory 17. a. $20,532 b. $16,632 c. $22,176 d. $25,200Explanation / Answer
Solution 12:
NuCo net purchases will be:
Purchases $193,000
Less Purchase return -17,000
Add: freight In 11,000
Net purchases $187,000
So, answer is a.
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