A company purchased 4000 worth of merchandise

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Reference no: EM13579808

1.A company purchased $4,000 worth of merchandise. Transportation costs were an additional $350. The company later returned $275 worth of merchandise and paid the invoice within the 2% cash discount period. The total amount paid for this merchandise is:

A. $3995

B. $3725

C. $3925

D. $4000.5

E. $4075

2.Acme-Jones Corporation uses a LIFO perpetual inventory system.

August 2, 25 units were purchased at $12 per unit.
August 5, 10 units were purchased at $13 per unit.
August 15, 12 units were sold at $25 per unit.
August 18, 15 units were purchased at $14 per unit.

What was the amount of the cost of goods sold?

A. $144

B. $184.53

C. $174.43

D. $163.00

E. $153.00

Reference no: EM13579808

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