Question

Calculate the total cost of merchandise purchased using the information in the following table:

Invoice cost of merchandise purchases $40,000
Purchase discounts received $ 3,000
Cost of transportation-in (shipping) $ 500
Costs of purchase returns and allowances $ 100
Multiple choice question.
a. $37,400
b. $40,000
c. $37,600
d. $36,500

Answer 1

Answer: $37,400

Explanation: Minus 3,000 , minus 500 , minus 100. =$37,400