On the statement of income, purchases less purchase discounts and purchase returns and allowances, plus freight in equals
A)cost of goods purchased.
B)cost of goods available for sale.
C)net purchases.
D)gross profit.

Question

Quizplus · Accepted Answer

Purchases less purchase discounts and purchase returns and allowances, plus freight in equals cost of goods purchased.

On the Statement of Income, Purchases Less Purchase Discounts and Purchase