Freight In is subtracted from the Purchases account to arrive at cost of goods purchased.

Name: Freight In is subtracted from the Purchases account to arrive at cost of goods purchased.
Brand: Quizplus
Rating: 4.9 (30 reviews)

Question

Quizplus · Accepted Answer

Freight In is added to the Purchases account to arrive at the cost of goods purchased because it represents the transportation cost to get the goods to the place of business, increasing the total cost of purchases.

Freight in Is Subtracted from the Purchases Account to Arrive