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Need answers to parts A, B, and C. Thank you A. Archer Company had an inventory balance of $2,600 on January 1. During the accounting
Need answers to parts A, B, and C. Thank you
A. Archer Company had an inventory balance of $2,600 on January 1. During the accounting period they made purchases of $11,500. The ending inventory balance was $1,250. If Archer Co. uses the periodic inventory system, what is the cost of goods available for sale? O A. $14,100 $2,600 B. OC. OD. $12.850 $11,500 B. Picasso's Paint Co. had an inventory balance of $4,200 on January 1. During the accounting period they made purchases of $12,500 The ending inventory balance was $2,250. If Picasso's Paint Co. uses the periodic inventory system, what is the cost of inventory sold during the period? O A. $12,500 B. $16,700 OC. $14,450 OD. $18.950 C. Happy Valley, Inc. has received an invoice for $6,500 with terms of 3/15, n/45 and uses the net method to record purchases. If Happy Valley pays the invoice on the seventeenth day, Accounts Payable will be A. credited for $6.305 B. credited for $6,500 debited for $6,305 C. D. credited for $195Step by Step Solution
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