On august 31 2012 merchandise inventory was 24614, Accounting Basics

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On august 31 2012 merchandise inventory was 24614

On August 31, 2012, merchandise inventory was $24,614. Supplementary records of merchandising activities for the year ended August 31, 2013, reveal the following itemized costs.

Invoice cost of merchandise purchases$89,670
Purchase discounts received1,883
Purchase returns and allowances4,304
Costs of transportation-in3,900

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Accounting Basics: On august 31 2012 merchandise inventory was 24614

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Accounting Basics: On august 31 2012 merchandise inventory was 24614

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