From the following information, determine the amount of freight-in. Beginning Inventory ................................... $20,000 Purchases ............................................. 41,000 Purchase Returns and Allowances ....................... 3,000 Purchase Discounts .................................... 4,000 Freight-In ............................................ ? Cost of Goods
Available for Sale ...................... 55,000 Ending Inventory ...................................... ? Cost of Goods Sold .................................... 22,000
a. $1,000
b. $2,000
c. $3,000
d. $4,000
A
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