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On November 30, 2013, the General Ledger of Hinges and More

question 34

Short Answer

On November 30, 2013, the general ledger of Hinges and More Hardware, a retail store, showed the following balances: Purchases, $136,750; Freight In, $2,500; Purchases Returns and Allowances, $4,000. Determine the following:
A) What was the delivered cost of purchases for November?
B) What was the net delivered cost of purchases for November?

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Definitions:

Refurbishment Company

A business specializing in the process of renovating or restoring products to their original condition or better.

Shipping Container

A large, standard-sized metal box used for transport and storage of goods in international trade.

Activity Variances

The differences between actual and budgeted levels of activity, often analyzed to understand deviations in performance.

Revenue Variances

The differences between actual revenues and forecasted or budgeted revenues.

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