Perpetual Inventory - Purchases Video Lessons

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Problem: The following information applied to Greer, Inc. for 2001: Merchandise purchased for resale                            $200,000 Freight-in                                                                     8,000 Freight-out                                                                   5,000 Purchase returns                                                         2,000 Greer's 2001 inventoriable cost was a. $200,000. b. $203,000. c. $206,000. d. $211,000.

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Problem Details

The following information applied to Greer, Inc. for 2001:

Merchandise purchased for resale                            $200,000
Freight-in                                                                     8,000
Freight-out                                                                   5,000
Purchase returns                                                         2,000

Greer's 2001 inventoriable cost was

a. $200,000.

b. $203,000.

c. $206,000.

d. $211,000.

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Our tutors rated the difficulty ofThe following information applied to Greer, Inc. for 2001: ...as medium difficulty.