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The following information for 2016 has been taken from the accounts of Tuttle Company.The company uses the periodic inventory method. Inventory, 31 December 2015 9.000
| The following information for 2016 has been taken from the accounts of Tuttle Company. The company uses the periodic inventory method. |
| Inventory, 31 December 2015 | 9.000 $ |
| acquisitions | 41.000 |
| Purchase returns and allowances | 700 |
| Purchase discounts | 500 |
| Freight terms for goods purchased under FOB shipping point | 1.700 |
Freight FOB target on goods sold under terms | 900 |
| cost of goods sold | 29.400 |
According to this information, what will be the inventory as of 31 December 2016
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To calculate the inventory as of 31 December 2016 we need to use the formula Endi...
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
9th Edition
125972266X, 9781259722660
