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Assume Andersons General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $24,000. If Andersons paid National Trucking $750 cash for transportation,
Assume Andersons General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $24,000. If Andersons paid National Trucking $750 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 Andersons?
Assume Andersons uses a perpetual inventory system.
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