Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. x company is a merchandiser. it incurred the follo

X Company is a merchandiser. It incurred the following costs in 2019: ...

80.2K

Verified Solution

Question

Accounting

X Company is a merchandiser. It incurred the following costs in 2019:

Advertising costs $11,200
Employee salaries 16,938
Utility costs 20,283
Supply costs 14,920
Warehouse costs 27,906
Merchandise purchases 82,642
Insurance costs 23,673
Equipment rental 12,482
Miscellaneous operating costs 19,871

The Merchandise Inventory account had a January 1 balance of $48,762 and a December 31 balance of $13,906. What was Cost of Goods Sold in 2019?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A test for diabetes classifies 99% of people with the disease as diabetic and 10% of...

Statistics
Q

Which one of the following will act as a buffer solution? A. 25 ml of 0.1 M...

Chemistry
Q

Flo's Frozen Yogurt shop is evaluating new dispensing machines. The Flownator has a first cost of $31665...

Finance
Q

Overall, boys achieve at higher levels academically because of higher societal expectations. True or false

Psychology
Q

what role does 'team work' play on economics? Can you be an independent person on this...

Economics
Q

1.      The demand data for a product over the past 5 months are shown below: MONTH DEMAND (number of units...

General Management
Q

Let E be an algebraic extension of F and o: E? E be an embedding...

Basic Math
Q

4 Solve this multivariate 4x 3y 2z 52 2y 3z 3z x Y x system...

Algebra
Q

19 21 7n 21 126 14k 20 m 4 13 22 143 11x

Algebra
Q

Required information [The following information applies fo...

Accounting
Q

East Lansing Appliances (ELA) expects to have sales this year of $15 million under its...

Finance
Q

Finding the required interest rate Your parents will retire in 23 years. They currently have...

Finance