Specialty Candles has provided the following details: Mar. 7 Inventory purchased on account Mar. 8 Freight in Purchase returns Allowances from vendor Mar. 13. Mar. 14 Mar. 16 Payment made to vendor for purchases on March 7 $95,000 5,000 4,000 500 ? Credit terms are: 4/10, n/45, FOB shipping point. Calculate the net cost of inventory purchased assuming that there are no other inventory - related transactions during the month. Assume that the perpetual inventory system is used.
Specialty Candles has provided the following details: Mar. 7 Inventory purchased on account Mar. 8 Freight in Purchase returns Allowances from vendor Mar. 13. Mar. 14 Mar. 16 Payment made to vendor for purchases on March 7 $95,000 5,000 4,000 500 ? Credit terms are: 4/10, n/45, FOB shipping point. Calculate the net cost of inventory purchased assuming that there are no other inventory - related transactions during the month. Assume that the perpetual inventory system is used.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Subject - account
Please help me.
![Specialty Candles has provided the following details:
Inventory purchased on account
Freight in
Mar. 7
Mar. 8
Mar. 13
Mar. 14
Mar. 16 Payment made to vendor for purchases on March 7
Purchase returns
Allowances from vendor
Credit terms are: 4/10, n/45, FOB shipping point. Calculate the net cost of inventory purchased assuming that there
are no other inventory-related transactions during the month. Assume that the perpetual inventory system is used.
O A. $90,500
B. $91,680
O C. $94,000
D. $91,880
$95,000
5,000
4,000
500
?
حلى](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a79f5fd-2bdd-484b-9c0d-a83d48b55247%2Ffa75cfe0-f721-400d-a74b-72ef6e097e81%2Ffpnlcgue_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Specialty Candles has provided the following details:
Inventory purchased on account
Freight in
Mar. 7
Mar. 8
Mar. 13
Mar. 14
Mar. 16 Payment made to vendor for purchases on March 7
Purchase returns
Allowances from vendor
Credit terms are: 4/10, n/45, FOB shipping point. Calculate the net cost of inventory purchased assuming that there
are no other inventory-related transactions during the month. Assume that the perpetual inventory system is used.
O A. $90,500
B. $91,680
O C. $94,000
D. $91,880
$95,000
5,000
4,000
500
?
حلى
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