The net cost of goods purchased for the year ended. Introduction: The net cost of goods purchased is an addition to the net purchases and the freight-in which is paid by the business to acquire the inventory. Net purchases indicate the amount of inventory purchased during the period and are reduced by the return of the purchase.

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Chapter 4, Problem 1.1AA

To determine

To calculate: The net cost of goods purchased for the year ended.

Introduction: The net cost of goods purchased is an addition to the net purchases and the freight-in which is paid by the business to acquire the inventory. Net purchases indicate the amount of inventory purchased during the period and are reduced by the return of the purchase.

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