Acompany had sales revenue of $800,000 for the year. in addition, the following information is available related to the cost of the units sold: gross profit $ 340,000 total purchase cost ? freight charges 20,000 purchase returns 80,000 operating expenses 150,000 purchase discounts 40,000 what was the total purchase cost of the units sold?

$410,000

Explanation:

Given:

Sales = $800,000

Gross profit = $340,000

Cost of goods sold = Sales - Gross profit

                              = 800,000 - 340,000

                              = $460,000

Now, Cost of goods sold = Purchases + operating expenses

Purchases = Purchase cost + freight charges - purchase returns - purchase discount

Substituting the above formula in cost of goods sold equation we get,

Cost of goods sold = (Purchase cost + freight charges - purchase returns - purchase discount) + operating expenses

460,000 = (Purchase cost + 20,000 - 80,000 - 40,000) + 150,000

460,000 = Purchase cost + 50,000

Purchase cost = $410,000

Total purchase cost is $410,000.

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number

answer; operating revenues;