Vaughn's Market recorded the following events involving a recent purchase of inventory: Received goods for $132000, terms 2/15, n/30. Returned $2600 of the shipment for credit. Paid $400 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by $126812. increased by $129800. increased by $127204. increased by $127212.
Vaughn's Market recorded the following events involving a recent purchase of inventory: Received goods for $132000, terms 2/15, n/30. Returned $2600 of the shipment for credit. Paid $400 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by $126812. increased by $129800. increased by $127204. increased by $127212.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 37E: Analyzing the Accounts Casey Company uses a perpetual inventory system and engaged in the following...
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I got this question wrong and I'm not sure why. The correct answer is 127212 but I am not sure how to get to that number.
![* Your answer is incorrect.
Vaughn's Market recorded the following events involving a recent purchase of inventory:
Received goods for $132000, terms 2/15, n/30.
Returned $2600 of the shipment for credit.
Paid $400 freight on the shipment.
Paid the invoice within the discount period.
As a result of these events, the company's inventory
increased by $126812.
O increased by $129800.
increased by $127204.
increased by $127212.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff8a86740-781a-4204-bc63-549b5147664d%2F07ff8bcd-cea9-4b69-ba60-fdd791a1c1ae%2Fwx8wtkq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:* Your answer is incorrect.
Vaughn's Market recorded the following events involving a recent purchase of inventory:
Received goods for $132000, terms 2/15, n/30.
Returned $2600 of the shipment for credit.
Paid $400 freight on the shipment.
Paid the invoice within the discount period.
As a result of these events, the company's inventory
increased by $126812.
O increased by $129800.
increased by $127204.
increased by $127212.
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