JiCo uses the periodic method. Its beginning inventory is $43,000, purchases are $321,000, F.O.B. destination, purchase returns

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JiCo uses the periodic method. Its beginning inventory is $43,000, purchases are $321,000, F.O.B. destination, purchase returns are $17,000, and freight is $9,000. The balance in JiCo's ledger Purchases account is...

a. $330,000

b. $317,000

c. $321,000

d. $304,000

Related Book For answer-question

Fundamental accounting principle

ISBN: 978-0078025587

21st edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

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Posted Date: Jan 29, 2024 07:11 AM

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JiCo uses the periodic method. Its beginning inventory is $43,000, purchases are $321,000, F.O.B. destination, purchase returns

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Fundamental accounting principle

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