Problem 13-9 (IAA)Fairy Company provided the following information:20192020SalesBeginning inventoryPurchasesFreight inPurchase discountsPurchase returnsPurchase allowancesEnding inventory7,500,0001,260,0006,450,000350,00090,000120,00020,0002,355,0004,500,0003,180,000220,00045,00040,00015,000What is the inventory on December 31, 2020?a. 2,370,000b. 2,025,000c. 3,285,000d. 2,505,000

given that, data for 2020 - opening inventory = 2355000 Purchases = 3180000 Freight in = 220000…

Problem 13-9 (IAA) Fairy Company provided the following information: 2019 2020 7,500,000 1,260,000 6,450,000 350,000 90,000 120,000 20,000 2,355,000 4,500,000 Sales Beginning inventory Purchases Freight in Purchase discounts Purchase returns Purchase allowances Ending inventory 3,180,000 220,000 45,000 40,000 15,000 What is the inventory on December 31, 2020? a. 2,370,000 b. 2,025,000 c. 3,285,000 d. 2,505,000

Problem 13-9 (IAA) Fairy Company provided the following information: 2019 2020 7,500,000 1,260,000 6,450,000 350,000 90,000 120,000 20,000 2,355,000 4,500,000 Sales Beginning inventory Purchases Freight in Purchase discounts Purchase returns Purchase allowances Ending inventory 3,180,000 220,000 45,000 40,000 15,000 What is the inventory on December 31, 2020? a. 2,370,000 b. 2,025,000 c. 3,285,000 d. 2,505,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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