Falls Creek, PA Profile: Facts, Map & Data. Falls Creek, Pennsylvania - Basic Facts. The Borough of Falls Creek had a population of 1,003 as of July 1, 2016. The primary coordinate point for Falls Creek is located at latitude 41.142 and longitude -78.8069 in Jefferson County.
cost of goods purchased. The price of products or services that are available for purchase by suppliers or consumers.
Thus, if a company has beginning inventory of $1,000,000, purchases during the period of $1,800,000, and ending inventory of $500,000, its cost of goods sold for the period is $2,300,000. To use the periodic inventory system, purchases related to manufactured goods must be accumulated in a purchases account.