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A company that uses the perpetual system bought inventory costing $1,000 with terms 2/10 net 30 and paid for it 6 days after receiving it
A company that uses the perpetual system bought inventory costing $1,000 with terms 2/10 net 30 and paid for it 6 days after receiving it (ignore GST). The related freight was $100 and the goods were shipped FOB destination. Based on the above, after paying for the inventory, the company's inventory account will have a balance of: a) $980 b) $1,100 c) $1,000 d) $1,078
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