The following information applied to Fenn, Inc. for 2006:
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|
Merchandise purchased for resale |
$400,000 |
|
Freight-in |
10,000 |
|
Freight-out |
5,000 |
|
Purchase returns |
2,000 |
Fenn’s 2006 inventoriable cost was
- $400,000
- $404,000
- $408,000
- $413,000