The cost of merchandise acquired is the invoice price of the goods plus directly identifiable inbound transportation costs less any cash or quantity discounts and less any returns or allowances.

Question

Quizplus · Accepted Answer

This statement is true. The cost of merchandise acquired is calculated as the invoice price of the goods plus directly identifiable inbound transportation costs, less any cash or quantity discounts and less any returns or allowances.

The Cost of Merchandise Acquired Is the Invoice Price of the Goods