Details of a purchase invoice and related credit memo are summarized as follows: Invoice: Cost of merchandise listed on purchase invoice $6,500 150 Prepaid freight charge added to invoice Terms, FOB shipping point, 1/10, n/eom Cost of merchandise returned Credit memo: $1,500 Assume that the credit memo was received prior to payment and that the invoice is paid within the discount period. Determine the following: a. Amount of the cash discount allowed. b. Amount to be paid by the purchaser if the discount is taken. c. Cost of the merchandise to the purchaser if the discount is not taken. The inventory method that assigns the most recent costs to cost of goods sold a. FIFO b. specific identification C. LIFO d. weighted average Which of the following is not an example for safeguarding inventory? a. Matching receiving documents, purchase orders, and vendor’s invoice. b. Returning inventory that is defective or broken. c. Storing inventory in restricted areas. d. Physical devices such as two-way mirrors, cameras, and alarms