Question

cases of tennis balls listed at $130 per case and for which To 18 given a 15% volume discount. YiCo sells 70% of the cases for cash. The cost of the unsold merchandise is... a. $15,600 b. $31,200 c. $26,520 d. $77,350 11. JaCo uses the periodic method and records merchandise purchases at net. Its 20X4 ending inventory is $69,000. During 20X5, JaCo purchases merchandise for $878,000, with freight-in of $11,000. Purchase returns are $17,000, purchase discounts lost are $4,000, and the cost of merchandise on hand at year end is $91,000. At year end, JaCo records the following entry: 91,000 17,000 850,000 a. Ending Inventory Purchase Returns Cost of Goods Sold Purchases Freight-In Beginning Inventory 878,000 11,000 69,000 b. Ending Inventory Purchase Returns Cost of Goods Sold Purchase Discounts Lost Purchases Freight-In Beginning Inventory 91,000 17,000 846,000 4,000 878,000 11,000 69,000 91,000 17,000 854,000 c. Ending Inventory Purchase Returns Cost of Goods Sold Purchases Freight-In Beginning Inventory Purchase Discounts Lost 878,000 11,000 69,000 4,000 69,000 17,000 894,000 d. Beginning Inventory Purchase Returns Cost of Goods Sold Purchases Freight-In Ending Inventory 878,000 11,000 91,000

Answer 1

10.
Cost of unsold merchandise = 800 x 30% x $130 x 0.85 = $26520

Answer is c. $26520

11.
Answer is a.
Since Purchase discount lost is not accounted for

12.
Net Purchase = $193000 - $17000 + $11000 = $187000

Answer is a. $187000

13.
Cost of Goods Sold = 812000-19000-8000+30000+21000-37000 = $799000

Answer is d. $799000

As per HOMEWORKLIB RULES, we are supposed to answer 1 question, but i have answered 4 questions, so kindly post other questions separately