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A company that uses the perpetual system bought inventory costing $1,000 with terms 2/10 net 30 and paid for it 6 days a
Posted: Thu May 19, 2022 11:56 am
by answerhappygod
- A Company That Uses The Perpetual System Bought Inventory Costing 1 000 With Terms 2 10 Net 30 And Paid For It 6 Days A 1 (30.62 KiB) Viewed 55 times
A
company that uses the perpetual system bought inventory costing $1,000 with terms 2/10 net 30 and paid for it 6 days after receiving it (ignore GST). The related freight was $100 and the goods were shipped FOB destination. Based on the above, after paying for the inventory, the
company's inventory account will have a balance of: a) $980 b) $1,100 c) $1,000 d) $1,078