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Assume Anderson's General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $23,100. If Anderson's paid National Trucking $660 cash for transportation,
Assume Anderson's General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $23,100. If Anderson's paid National Trucking $660 cash for transportation, immediately returned goods to American Wholesaling costing $1,300, and then paid American Wholesaling within the 3/30, n/60 purchase discount period. How much did this inventory cost Anderson's? Assume Anderson's uses a perpetual inventory system. Inventory Cost Marcy's, Inc., operates department stores located primarily in the Southwest, Southeast, and Midwest. In its 2016 third-quarter report, the company reported Cost of Goods Sold of $11,600 million, ending inventory for the third quarter of $11,700 million, and ending inventory for the previous quarter of $11,300 million. Estimate merchandise purchases for the third quarter. (Enter your answer in millions.) Merchandise Purchases million
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