The following information pertains to Bradley Company, which uses a periodic inventory system:Beginning merchandise inventory$42,000Ending merchandise inventory37,000Purchases93,000Purchases returns and allowances4,650Purchases discounts7,154Freight-in420What is Bradley Company's cost of goods sold at the end of the period?a. $44,196b. $98,000c. $98,420d. $86,616

Cost of goods sold is the expenses related to sold goods (excluding selling and distribution…

Answered: Beginning merchandise inventory…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 6MCQ: Refer to the information for Morgan Inc. above. If Morgan uses a perpetual inventory system, what is...

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The following information pertains to Bradley Company, which uses a periodic inventory system:

Beginning merchandise inventory	$42,000
Ending merchandise inventory	37,000
Purchases	93,000
Purchases returns and allowances	4,650
Purchases discounts	7,154
Freight-in	420

What is Bradley Company's cost of goods sold at the end of the period?

a. $44,196

b. $98,000

c. $98,420

d. $86,616

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