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6 During the months of January and February, Axen Corporation purchased goods from three suppliers. The sequence of events was as follows: Jan. 10 points
6 During the months of January and February, Axen Corporation purchased goods from three suppliers. The sequence of events was as follows: Jan. 10 points 6 Purchased goods for $3,200 from Green with terms 2/10, n/30 6 Purchased goods from Munoz for $2,500 with terms 2/10, n/30 14 Paid Green in full Feb. 2 Paid Munoz in full 28 Purchased goods for $750 from Reynolds with terms 2/10, n/45 eBook Print Required: Assume that Axen uses a perpetual inventory system, the company had no inventory on hand at the beginning of January, and no sales were made during January and February. Calculate the cost of inventory as of February 28. References Purchases Cost of inventory as of February 28
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