Ask Question
26 February, 06:28

JC Manufacturing purchased inventory for $5300 and also paid a $ 260 freight bill. JC Manufacturing returned 45 % of the goods to the seller and later took a 2 % purchase discount. Assume JC Manufacturing uses a perpetual inventory system. What is JC Manufacturing 's final cost of the inventory that it kept? (Round your answer to the nearest whole number.)

+1
Answers (1)
  1. 26 February, 08:49
    0
    JC Manufacturing 's final cost of the inventory that it kept is $3117

    Explanation:

    The computation of the final cost of inventory is shown below:

    = Purchase cost of inventory - returned goods - discounts + freight charges

    = $5,300 - $2385 - $58.3 + $260

    = $3,116.7 or $3,117

    The returned goods is computed by

    = Purchase cost of inventory * returned percentage

    = $5,300 * 45%

    = $2,385

    And, the Discount is computed by

    = (Purchase cost of inventory - returned goods) * discount rate

    = ($5,300 - $2,385) * 2%

    = $2,915 * 2%

    = $58.30
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “JC Manufacturing purchased inventory for $5300 and also paid a $ 260 freight bill. JC Manufacturing returned 45 % of the goods to the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers