Precision Musical Instruments, merchandisers of musical instruments, has provided the following details: Mar. 5 Inventory...
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Precision Musical Instruments, merchandisers of musical instruments, has provided the following details: Mar. 5 Inventory purchased on account Mar. 8 Freight in Mar. 13 Purchase returns Mar. 14 Allowances by vendor Mar. 20 Payment made to vendor for purchases on March 5 Credit terms are: 4/20, n/ $800,000 30,000 60,000 10,000 45, FOB shipping point. Calculate the net cost of inventory purchased assuming that there a other inventory- related transactions during the month. Assume that the perpetual inventory system is used. O A. $790,000 0 B. $730,800 C. $729,600 O D. $730,000
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