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1. Finland Company consigned goods costing $100,000 to France Inc. with a 35% markup on cost. Transportation costs to deliver the goods were $20,000. Finland gave France $10,000 advance commission to accept the goods. The cost of the consigned goods was $120,000. 2. Romania Company regularly buys earphones with a 20% and 10% trade discount. For an invoice of $900,000 with $50,000 freight charges and net 30 days terms, the purchase amount recorded should be $698,000. 3. For perpetual inventory, if the end

Author

Gabrielle Joshebed Abarico

Language

EN