Author Question: The following information is provided for PO Company: Purchased 100 units of merchandise for 20 ... (Read 87 times)

OSWALD · **on:** Jul 5, 2018

The following information is provided for PO Company:

Purchased 100 units of merchandise for 20 each
Paid 50 of freight costs for the merchandise received
Paid 1,200 for an advertising campaign related to the merchandise
Returned 10 of the

units purchased because they were broken
Paid the purchasing manager's monthly salary of 3,000

Determine the cost of PO's inventory at the end of the period.
A) 1,850
B) 3,050
C) 1,800
D) 4,800

Question 2

When the three sections of a balance sheet are presented on a page in a downward sequence, it is called the
a. account form
b. comparative form
c. horizontal form
d. report form