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Bernabe, Inc. uses the perpetual inventory system. On September 1, 2019, the inventory account in Bernabe, Inc.'s general ledger has a balance of $50,000 (assume
Bernabe, Inc. uses the perpetual inventory system. On September 1, 2019, the inventory account in Bernabe, Inc.'s general ledger has a balance of $50,000 (assume normal balance). On September 19, 2019, Bernabe purchases $200,000 worth of merchandise with credit terms 1/10, net 30. On September 21, 2019, Bernabe returns $10,000 worth of defective merchandise. On September 24, 2019, Bernabe sells inventory having a cost of $11,000 for a selling price of $22,000. Title of the goods transferred to the buyer on September 24, 2019. On September 25, 2019, Bernabe pays the amount due (based on the credit terms) Assuming these were the ONLY transactions for the month, what will be the inventory account balance in Bernabe's general ledger at September 30, 2019? $227,100 $229,000 $238,100 $177,100 o $227,000
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