Cobb Company's Accounting Records Show the Following at the Year

question 103

Multiple Choice

Cobb Company's accounting records show the following at the year ending on December 31, 2015: $$\begin{array} { l r } \text { Purchase Discounts } & \$ 11,200 \\\text { Freight - In } & 15,600 \\\text { Purchases } & 402,000 \\\text { Beginning Inventory } & 47,000 \\\text { Ending Inventory } & 57,600 \\\text { Purchase Returns } & 12,800\end{array}$$ Using the periodic system, the cost of goods purchased is

• A) $378,000.
• B) $383,000.
• C) $393,600.
• D) $404,200.

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