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northwest fur company started 2024 with $99,000 of inventory on hand. during 2024, $600,000 in...

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Accounting

Northwest Fur Company started 2024 with $99,000 of inventory on hand. During 2024, $600,000 in inventory was purchased on account with credit terms of 215/ , n45/ . All discounts were taken. Purchases were all made f.o.b. shipping point. Northwest paid freight charges of $8,900. Inventory with an invoice amount of $4,600 was returned for credit. Cost of goods sold for the year was $370,000. Northwest uses a perpetual inventory system. What is

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