Question

Company made total purchases of $ 310 comma 000 in the most current year. It paid freight in of $ 5 comma 500 on its purchases. Freight​ out, the cost to deliver the merchandise when it was sold to Trift​'s ​customers, totaled $ 7 comma 800. Of the total purchases Trift made during the​ period, it returned $ 28 comma 000 of the merchandise. Trift took advantage of $ 2 comma 700 of purchase discounts offered by its vendors. What was Trift​'s cost of​ inventory?

Answer 1

Cost of​ inventory = $284,800

Step-by-step explanation:

Given:

Purchase = $310,000

Fright inward = $5,500.

Fright outward = $5,500

Purchase return = $28000

Discount receive = $2,700

Computation of Cost of​ inventory:

Particular Amount

Purchase $310,000

Add: Fright inward $5,500

$315,500

Less: Purchase return $28000

Less: Discount receive $2,700

Cost of​ inventory $284,800