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    krisssan's Avatar
    krisssan Posts: 1, Reputation: 1
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    #1

    Jun 13, 2010, 09:37 PM
    Computing company's total cost of merchandise purchase for the year.
    How do I figure out the cost of merchandise purchases for the year?
    tkaru's Avatar
    tkaru Posts: 4, Reputation: 1
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    #2

    Jun 14, 2010, 02:19 PM

    In the account book, under payables you should have everything you spent on purchases. When you add that for the fiscal period, you should have a total.

    P.S. This link may help:

    Why can a retailer record its purchase of merchandise as a debit to purchases within the cost of goods sold, instead of the asset inventory? | AccountingCoach.com Q&A
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