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. **Inventory Purchase Analysis at Vaughn’s Market**Vaughn’s Market recorded the following events involving a recent purchase of inventory:- Received goods valued at $132,000 with terms 2/15, n/30.- Returned $2,600 worth of the shipment for credit.- Paid $400 for freight on the shipment.- Settled the invoice within the discount period.**Resulting Changes in Inventory Value:**Given these transactions, the company’s inventory has increased by one of the following amounts:- $126,812- $129,800- $127,204- $127,212**Explanation of Options:**Each option represents a potential calculation outcome based on applying the purchase terms, return, and additional costs. Evaluating these will help determine the precise impact on inventory cost, considering discounts and expenses.

Received goods for $132,000 terms 2/15, n/30 - i.e., merchandise inventory (MI) and accounts Payable…

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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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