[Solved] A buyer uses a perpetual inventory system

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A buyer uses a perpetual inventory system, and on December 7 , it contacts its supplier to report that some of the merchandise purchased on

A buyer uses a perpetual inventory system, and on December

7,

it contacts its supplier to report that some of the merchandise purchased on December

5

was defective. The seller offered to reduce the merchandise price by $

400 .

The buyer agreed to keep the defective merchandise under those terms.

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