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1.A company purchased $4,000 worth of merchandise. Transportation costs were an additional $350. The company later returned $275 worth of merchandise and paid the invoice within the 2% cash discount period. The total amount paid for this merchandise is:
A. $3995
B. $3725
C. $3925
D. $4000.5
E. $4075
2.Acme-Jones Corporation uses a LIFO perpetual inventory system.
August 2, 25 units were purchased at $12 per unit.August 5, 10 units were purchased at $13 per unit.August 15, 12 units were sold at $25 per unit.August 18, 15 units were purchased at $14 per unit.
What was the amount of the cost of goods sold?
A. $144
B. $184.53
C. $174.43
D. $163.00
E. $153.00
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