XaCo begins business in June and uses the periodic method. Its June merchandise purchases are $195,000 on account, F.O.B. shipping point. Merchandise that cost $3,000 is returned for credit. Goods that XaCo sells for $11,000 and that cost $7,000 are returned to XaCo for cash refunds. On July 6, XaCo pays a $6,000 freight bill for its June purchases. The net cost of XaCo's  June purchases is?

Answer rating: 100% (QA)

The net cost of XaCos June purchases is 202000 Heres how we ... View the full answer