1. In its first month of operation, Invento, Inc., purchased $30,000 of inventory, paid $1,500...
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Accounting
1. In its first month of operation, Invento, Inc., purchased $30,000 of inventory, paid $1,500 for shipping costs, returned $4,500 of the shipment to the supplier, and received a $600 discount for early payments to its supplier. $6,000 0f the inventory (after all adjustment) was sold during the month for $10,500. The balance at the end of the month in inventory should be:
A. $19,500
B. $18,900
C. 26,400
D.20,400
E. 24,000
2. What is the benefit and cost of extending credit to customers:
