Solved: What is cullumbers inventoriable cost for 2018 cullumber co, Accounting Basics

What is cullumbers inventoriable cost for 2018 cullumber co

Cullumber Co., a wholesale company, had the following information in its general ledger for the year 2018.

Merchandise purchased for resale	$537,500
Purchase returns	9,500
Marketing expense	6,200
Freight-in	19,600
Interest on notes payable to vendors	4,800
Freight-out (delivery expense on sales)	21,450
Cash discounts on purchases	5,130

What is Cullumber's inventoriable cost for 2018?

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