Multiple Choice
ClearEyes Inc.reported beginning inventory of $20,000.During the period, purchases were $140,000; purchase returns, $4,000; and freight in $10,000.A physical count of inventory at the end of the period revealed that $30,000 was still on hand.The cost of goods available for sale was
A) $156,000.
B) $164,000.
C) $166,000.
D) $184,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q124: Gross profit margin is calculated by dividing
Q125: The primary difference between a periodic and
Q126: Purchases less purchase returns and allowances less
Q127: Gross profit equals the difference between sales
Q128: When a customer returns merchandise, the entry
Q130: Income from operations appears on<br>A)both a multiple-step
Q131: Profit margin is calculated by dividing net
Q132: A physical inventory count should be done
Q133: When a sale occurs under a perpetual
Q134: Gross profit margin is the same as