During the months of January and February, Axe Corporation purchased goods from

Question

During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows:

Assume that Axe uses a perpetual inventory system, the company had no inventory on hand at the beginning of January, and no sales were made during January and February. Calculate the cost of inventory as of February 28.

Cost Inventory is ______

During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows:

Explanation / Answer

Inventory cost if purchased from Green = $ 1900 - $57 (discount)

= $ 1843

inventory cost if purchased from Munoz = $ 1250

Inventory cost if purchased from Reynolds = $ 700

Cost of Inventory = $ 3793

Related Questions

Navigate

• Browse (All)
• Browse D
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.