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The following information is available for Naab Company for 2020: Freight-in $ 60,000 Purchase returns...

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Accounting

The following information is available for Naab Company for 2020:

Freight-in $ 60,000

Purchase returns 150,000

Selling expenses 460,000

Ending inventory 520,000

The cost of goods sold is equal to 400% of selling expenses.

The cost of goods available for sale is 2,360,000

A) Why was Freight-In NOT used in the calculation for COGS available for sale? Explain in detail.

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