Indigo Football Shop began operations on January 2, 2017. The following stock record card for footballs was taken from the records at the end of the year.
Date
Voucher
Terms
Units Received
Unit Invoice Cost
Gross Invoice Amount
1/15
10624
Net 30
69
$29
$2,001
3/15
11437
1/5, net 30
84
23
1,932
6/20
21332
1/10, net 30
109
22
2,398
9/12
27644
1/10, net 30
103
18
1,854
11/24
31269
1/10, net 30
95
16
1,520
Totals
460
$9,705
A physical inventory on December 31, 2017, reveals that 113 footballs were in stock. The bookkeeper informs you that all the discounts were taken. Assume that Indigo Football Shop uses the invoice price less discount for recording purchases.
https://papershelpdesk.com/wp-content/uploads/2021/05/Logo-300x75.png00adminhttps://papershelpdesk.com/wp-content/uploads/2021/05/Logo-300x75.pngadmin2022-01-26 11:44:262022-01-26 11:44:26Indigo football shop began operations on january 2, 2017. the
