A retailer has a beginning inventory (at cost)of $62,000,purchases (at cost)of $17,000,and transportation charges of $1,600.Its merchandise available for sale is $79,000.

Question

Quizplus · Accepted Answer

The merchandise available for sale is calculated by adding the beginning inventory, purchases, and transportation charges: $62,000 + $17,000 + $1,600 = $80,600, not $79,000.

A Retailer Has a Beginning Inventory (At Cost)of $62,000,purchases (At