J Frumm Co

question 85

Short Answer

J. Frumm Co. has the following transaction totals for the month. Use this information to answer the questions below.
Cost of Freight-In        $150
Discounts received on purchases        750
Value of Inventory Returns and Allowances        900
Purchases of Inventory       7,000
HST Paid        1,620
Beginning Inventory        1,200
Cost of Goods Sold        1,350
Based on the above, Ending Inventory is ________.

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Definitions:

I.Q.

Short for Intelligence Quotient, a measure of a person's intellectual abilities relative to their age group.

Brain Waves

The patterns of electrical activity in the brain, measured by EEG, that are indicative of different states of consciousness.

Volts

The unit of electric potential and electromotive force in the International System of Units, symbolized as V.

Amperes

The unit of electrical current in the International System of Units (SI); it is a measure of the amount of electric charge passing a point per unit time.