The following information applied to Grey, Inc.for 2007: $\begin{array}{lr}
\text { Merchandise purchased for resale } & \$ 300,000 \
\text { Freight-in } & 8,000 \
\text { Freight-out } & 5,000 \
\text { Purchase returns } & 2,000
\end{array}$
Grey's 2007 inventoriable cost was
A)$300,000.
B)$303,000.
C)$306,000.
D)$311,000.

Question

The following information applied to Grey, Inc.for 2007: $\begin{array}{lr}
\text { Merchandise purchased for resale } & \$ 300,000 \
\text { Freight-in } & 8,000 \
\text { Freight-out } & 5,000 \
\text { Purchase returns } & 2,000
\end{array}$
 Grey's 2007 inventoriable cost was
A)$300,000.
B)$303,000.
C)$306,000.
D)$311,000.

Quizplus · Accepted Answer

The Answer of The following information applied to Grey, Inc.for 2007: $\begin{array}{lr}
\text { Merchandise purchased for resale } & \$ 300,000 \
\text { Freight-in } & 8,000 \
\text { Freight-out } & 5,000 \
\text { Purchase returns } & 2,000
\end{array}$
 Grey's 2007 inventoriable cost was
A)$300,000.
B)$303,000.
C)$306,000.
D)$311,000.

The Following Information Applied to Grey, Inc Grey's 2007 Inventoriable Cost Was A)$300,000

The Following Information Applied to Grey, Inc Grey's 2007 Inventoriable Cost Was
A)$300,000