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Corp uses perpetual inventory system. The following activities occurred in May: May 2- purchased 45,000...

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Accounting

Corp uses perpetual inventory system. The following activities occurred in May: May 2- purchased 45,000 worth of inventory, on credit terms 3/10 n/30 May 2- Because the terms of the purchase were FOB shipping point, pays $1,200 to the trucker. May 5- returned 5,000 worth of thst inventory to the supplier May 10- paid for the inventory, taking advantage of all available discounts

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