Ask Experts Questions for FREE Help !
Ask
    fwansheen's Avatar
    fwansheen Posts: 2, Reputation: 1
    New Member
     
    #1

    Aug 23, 2012, 08:07 PM
    The cost of purchase of inventory does not include?
    a. Purchase price
    b. import duties and taxes
    c. freight, handling and other costs directly attributable to the acquisition of goods
    d. trade discounts, rebates and other similar items

Check out some similar questions!

Determine the cost of ending inventory & the cost of good sold? [ 0 Answers ]

Hi ! I've honestly spent a long time trying to figure this out, but I keep getting the answer wrong and I'm not sure how I should go about this question. I'm not asking for you to just give me the answer, if you have time to give a little explanation that would be nice so I could understand what...

Inventory accounting - cost of inventory destroyed [ 2 Answers ]

Please assist me with the following questions: Citi-Wholesalers marks its purchases up by 25%. Its inventory was insured against fire, the policy being subject to average. A fire took place on 30th October 2007 and all inventory was destroyed except for items which had cost $40 000 which were...

How to find ending inventory using the average inventory cost method [ 3 Answers ]

The Boxwood Company Sells blankets for $60 each. Purchase 5 units 30$ Purchase 10 units 34$ Purchase 10 units 40$ Sale 3 units Sale 6 units Sale 3 units Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the average...

Find Cost of goods sold and ending inventory using.average cost/FIFO/LIFO [ 2 Answers ]

I'm having a hard time with the fifo and lifo method... of this question Began with 73 yards @ 23 per yard During the month the company made the following purchases. March 3/4 113 yards @ 27 3/12 81 yards @ 29 3/19 167 yards @ 32 3/25 44 yards @ 35


View more questions Search
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.