The Lone Cactus Nursery has the following general ledger account balances as of August. Purchases

The Lone Cactus Nursery has the following general ledger account balances as of August.
Purchases $56,211
Freight In 3,000
Purchases Returns and Allowances 500
Purchases Discounts 300
Calculate the net delivered cost of purchases for August.

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  1. Answer:

    Net delivered cost of purchase             $58,411

    Explanation:

    Computation of net delivered cost of purchase.

    Particular                                                 Amount

    Purchases                                                $56,211

    Freight In                                                  $3,000

                                                                    $59,211

    Less: Purchases Returns                         $500

    Less: Purchases Discounts                     $300    

    Net delivered cost of purchase             $58,411

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