Marcel's Fashions Started with $7,000 in Inventory and Had the Following

question 105

Multiple Choice

Marcel's Fashions started with $7,000 in Inventory and had the following transaction totals for the month of April:
Sales $20,000
Sales Returns and Allowances 2,000
Cost of Goods Sold 8,000
Purchases ???
Freight 1,000
Purchases Returns and Allow. 2,000
Purchases Discounts 1,500
If ending Inventory for the period is $14,000, what is the total amount of purchases during the month?

• A) $18,500
• B) $15,500
• C) $17,500
• D) $16,500

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Definitions:

Sigmund Freud

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