The company regularly buys sweaters from AA company and is allowed trade discounts of 18% and...
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The company regularly buys sweaters from AA company and is allowed trade discounts of 18% and 9% from the list price. the company made a purchase during the year and received an invoice with a list price of P550,000, a freight charge of P15,000 and payment terms of 2/10, n/30. Required: What amount of merchandise should be reported as part of the inventory? Answer: The company regularly buys sweaters from AA company and is allowed trade discounts of 18% and 9% from the list price. the company made a purchase during the year and received an invoice with a list price of P550,000, a freight charge of P15,000 and payment terms of 2/10, n/30. Required: What amount of merchandise should be reported as part of the inventory? Answer:
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Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date:
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