Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. downtown market purchased inventory for $4,600 and

Downtown Market purchased inventory for $4,600 and also paid a $340 freight bill. Downtown Market...

90.2K

Verified Solution

Question

Accounting

imageimage

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Consider that azimuthal quantum number 7 is having n 1 values i e whole number...

Physics
Q

Explain how the rank of a matrix and existence and uniqueness of solutions of “Systems of...

Advance Math
Q

CASE ANALYSIS Mars Inc.: merger of the European food, pet care and confectionery divisions Mars Inc. is a diversified...

General Management
Q

A liquid of density d is pumped by a pump P from situation i to...

Physics
Q

A ceiling fan of moment of inertia 30 kgm rotates about its own axis at...

Physics
Q

4 H and He respectively In a cyclic process shown in the figure an ideal...

Physics
Q

Write a sample space for the following random experiment.A month of the year is chosen...

Basic Math
Q

Draw the line passing through the point 3 4 with a slope of CLICK TO...

Statistics
Q

Complete the following conversions.1) 500 cm = m2) 1400 ft= ...

Algebra
Q

[The following information applies to the questions displayed below] You have just been hired as...

Accounting
Q

Ladanza Corporation is a wholesaler that sells a single product. Management has provided the following...

Accounting
Q

The fact that no investor can expect to earn excess returns based on an investment...

Finance