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-   -   2011 purchases (https://www.askmehelpdesk.com/showthread.php?t=276819)

  • Nov 3, 2008, 05:43 PM
    JWB1955
    2011 purchases
    Financial Statements of ABC Corp. indicates that ending inventory levels in 2010 and 2011 were $200,000 and $350,000 respectively. Net Sales for 2010 and 2011 were $5,000,000 and $5,500,000 respectively. Cost of Goods sold for 2010 and 2011 were $1,900,000 and $2,200,000 respectively. Purchases are recorded using the net method and purchase discounts lost are expensed. Purchase discounts lost in 2010 and 2011 were $50,000 and $75,000 respectively. Purchases in 2011 were:
    A) $2,225,000
    B) $2,275,000
    C) $2,350,000
    D) $2,425,000
  • May 2, 2010, 07:40 PM
    appleplum
    2350000

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