Calculate the amount of freight

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Reference no: EM13258506

The following information was taken from Jackson Company's accounting records for 2007:

salesrevenue ............................. $325,000

freight-in................................ ?

purchasereturns .......................... 7,000

rentexpense .............................. 44,000

beginning inventory ....................... 19,000

net income................................ 104,000

bad debt expense .......................... 25,000

purchases................................. 86,000

freight-out............................... ?

gain on sale of investments ............... 5,000

sales discounts ........................... 14,000

allowance for doubtful accounts ........... 17,000

purchase discounts ........................ 4,000

income tax expense ........................ 45,000

ending inventory .......................... ?

gross profit .............................. 230,000

Jackson Company reported an inventory turnover ratio of 3.6 during 2007.

Calculate the amount of freight-in reported byJackson Company during 2007. Do not use decimals in your answer.

Reference no: EM13258506

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