Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. big lot company made total purchases of $290,000 i

Big Lot Company made total purchases of $290,000 in the most current year. It paid...

80.2K

Verified Solution

Question

Accounting

image
Big Lot Company made total purchases of $290,000 in the most current year. It paid freight in of $5,500 on its purchases. Freight out, the cost to deliver the merchandise when it was sold to Big Lot's customers, totaled $8,500. Of the total purchases Big Lot made during the period, it returned $22,000 of the merchandise. Big Lot took advantage of $2,100 of purchase discounts offered by its vendors. What was Big Lot's cost of inventory? Big Lot's cost of inventory is

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students