Problem
The following information pertained to Azur Co. for the year:
Purchases
|
$ 102,800
|
Purchase discounts
|
10,280
|
Freight-in
|
15,420
|
Freight-out
|
5,140
|
Beginning inventory
|
30,840
|
Ending inventory
|
20,560
|
What amount should Azur report as cost of goods sold for the year?