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O O O inventory for $1300. Crane Company uses the perpetual inventory and the gross method. On March 1, it purchased $65000 of inventory, terms
O O O inventory for $1300. Crane Company uses the perpetual inventory and the gross method. On March 1, it purchased $65000 of inventory, terms 2/10, n/30. On March 3, Crane returned goods that cost $7000. On March 9, Crane paid the supplier. On March 9, Crane should credit purchase discounts for $1300. inventory for $1160. purchase discounts for $1160
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