18 Concerning purchase discounts, which one of the following statements is trw? Purchase discounts taken should be deducted from the acquisition cost of the inventory, The net price method results in recording accounts payable at the maximum value of the linbility that the company may be required to pay out. Purchase discounts lost should be included in the cost of inventory d. An advantage of the gross price method is that it isolates purchase discounts lost and thus highlights inefficiencies, Date On June 1, Dollar Hardware. Inc. had an inventory of 300 gas grills costing 5100 ench Purchases and sales during Jane are as follows: Purchases Sales June 3 100 $125 each June 10 50 @ SH10 euch June 17 130 S130 cach June 28 50@5120 each What is the cost of Dollar's inventory on June 30 using the FIFO method? SI5,000 b. 516,000 516,500 d. $18,000 Os August 1, Micro Encoders, Inc. had 120 nits of a certo page that coup During My, the following purchases were made A 60 59.00 per unit Die wieder who 15 1