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Question: South Coast Down Co. started 2023 with $94,000 of merchandise inventory on hand. During 2023, $400,000 in merchandise was purchased on account with credit terms of 1/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. South Coast paid freight charges of $7,500. Merchandise with an invoice amount of $5,000 was returned for credit. Cost of goods sold for the year was $380,000. South Coast uses a perpetual inventory system. What's ending inventory assuming South Coast uses the gross method to record purchases?
Sofie Manufacturers produces decorative pillows and sells them at $96 per unit. What is the operating income of the business
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A business is considering a cash outlay of $500,000 for the purchase of land, which it could lease for $40,000 per year. If alternative investments are available which yield a 21% return, the opportunity cost of the purchase of the land is:
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