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ejones3535 ejones3535
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A company purchased inventory for $74,000 from a vendor on account, FOB shipping point, with terms of 3/10, n/30. The company paid the shipper $1,500 cash for freight in. The company paid the vendor nine days after the sale. If there was no beginning inventory, the cost of inventory would be ________. (Assume a perpetual inventory system.)
A) $73,280
B) $75,500
C) $70,280
D) $72,500
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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tgehbretgfhgrertgehbretgfhgrer
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ejones3535 Author
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5 years ago
Ready for finals now Monkey
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5 years ago
Good luck my friend!
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