题目内容

Gross purchases are $17 000, purchase returns and allowances are $3000, and Freight-in is $1000. Cost of purchases is :

A. $17 000
B. $14 000
C. $13 000
D. $15 000

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Net sales are $120 000, COGS is $50 000, and operating expense are $30 000. What is profit?

A. $120 000
B. $90 000
C. $70 000
D. $40 000

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Underaperiodicinventorysystem,accountisusedforthecostofgoodswhenmerchandiseispurchasedforresaletocustomers.

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FreightInisaddedtonetpurchasestoproduce.

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Which of the following statement is correct?

A. Straight-line depreciation is an accelerate method of depreciation.
B. The total amount of depreciation for an asset is the same, regardless of the method used.
C. The total amount of depreciation for an asset differs depending on the method used.
D. In the later years of an asset’s useful life, straight-line depreciation gives lower expense than does diminishing-balance depreciation.

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Gross purchases are $17 000, purchase returns and allowances are $3000, and Freight-in is $1000. Cost of purchases is :

A. $17 000 B. $14 000 C. $13 000 D. $15 000

Net sales are $120 000, COGS is $50 000, and operating expense are $30 000. What is profit?

Underaperiodicinventorysystem,accountisusedforthecostofgoodswhenmerchandiseispurchasedforresaletocustomers.

FreightInisaddedtonetpurchasestoproduce.

Which of the following statement is correct?

A. $17 000
B. $14 000
C. $13 000
D. $15 000