Reference no: EM132463593

Question 1: At the end of Monty Department Store's fiscal year on November 30, 2020, these accounts appeared in its adjusted trial balance.

Freight-In                                                                 $7,600

Inventory                                                                  41,500

Purchases                                                                 575,100

Purchase Discounts                                                        6,600

Purchase Returns and Allowances                                      2,500

Sales Revenue                                                           1,043,500

Sales Returns and Allowances                                            21,200

Additional facts:

Point 1. Merchandise inventory on November 30, 2020, is $51,200.

Point 2. Monty Department Store uses a periodic system.

Attachment:- trial balance.rar