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11 Cards in this Set

  • Front
  • Back
net purchases
Purchases + Transportation In - Purch Discounts - Purch Ret & Allow
net sales
Sales - Sales discount - Sales ret. & allow
Cost of Delivered Merchandise
Purchases + Transportation In
Cost of Merchandise Available
Beg. Inventory + Net Purchases
Cost of Merchandise Sold or
Cost of Goods Sold
Beg. Inventory + Net Purchases - Ending Inventory

or

Cost of Merdandise Available - Ending Inventory
Gross Profit on Sales
Net Sales - Cost of Merchandise Sold
Net Income
Net Sales - COMS - Expenses + Other Income
New Capital
Beg. Capital + Net Income - Drawing
Transporation In
Increases Purchases
FOB Shipping Point
buyer pays the shipping charge
FOB destination
supplier pays the shipping cost