Peterson Manufacturing purchased inventory for $4,600 and also paid a $420 freight bill. Peterson Manufacturing returned 25% of the goods to the seller and later took a 2% purchase discount. Assume Peterson Manufacturing uses a perpetual inventory system. What is Peterson Manufacturing's final cost of the inventory that it kept? (Round your answer to the nearest whole number.) OA. $3,690 OB. $3,381 OC. $3,801 OD. $1,127

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Peterson Manufacturing purchased inventory for $4,600 and also paid a $420 freight bill. Peterson Manufacturing returned 25% of the goods to the seller and later took a 2% purchase discount.
Assume Peterson Manufacturing uses a perpetual inventory system. What is Peterson Manufacturing's final cost of the inventory that it kept? (Round your answer to the nearest whole number.)
A. $3,690
OB. $3,381
OC. $3,801
OD. $1,127
Transcribed Image Text:Peterson Manufacturing purchased inventory for $4,600 and also paid a $420 freight bill. Peterson Manufacturing returned 25% of the goods to the seller and later took a 2% purchase discount. Assume Peterson Manufacturing uses a perpetual inventory system. What is Peterson Manufacturing's final cost of the inventory that it kept? (Round your answer to the nearest whole number.) A. $3,690 OB. $3,381 OC. $3,801 OD. $1,127
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