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19- A company that uses the perpetual inventory method purchased inventory for $2,000 from a vendor on account, FOB shipping point, with terms of 2/10,
19- A company that uses the perpetual inventory method purchased inventory for $2,000 from a vendor on account, FOB shipping point, with terms of 2/10, n/30. The company paid the shipper $100 cash for freight in. The company then returned $200 of damaged goods and got an allowance from the vendor. The company paid the vendor 8 days after the sale. Assuming this was the only transaction affecting inventory, and that there was no beginning balance, what would the cost basis of the inventory be? a) $2,100 b) $1,864 01374 c) $1,764 d) $1,900
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