Chec M6-5 Evaluating Inventory Cost Components [LO 6-3) Assume Anderson's General Store bought, on credit,...
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Chec M6-5 Evaluating Inventory Cost Components [LO 6-3) Assume Anderson's General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $23,500. If Anderson's paid National Trucking $700 cash for transportation, immediately returned goods to American Wholesaling costing S1,100, and then paid American Wholesaling within the 1/30, n/60 purchase discount period. How much did this inventory cost Anderson's? Assume Anderson's uses a perpetual inventory system Inventory Cost
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