Downtown Market purchased inventory for $4,600 and also paid a $340 freight bill. Downtown Market...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Downtown Market purchased inventory for $4,600 and also paid a $340 freight bill. Downtown Market returned 20% of the goods to the seller and later took a 1% purchase discount. Assume Downtown Market uses a perpetual inventory system. What is Downtown Market's final cost of the inventory that it kept? (Round your answer to the nearest whole number.) A. $911 B. $3,983 C. $3,912 D. $3,643 records sales at the net amount.) A. $139,000 B. $297,000 C. $300,000 D. $161,000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
