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On October 1, ABC purchases 100 units of inventory from XYZ for $100 per unit. These units had a cost of $60/unit to XYZ. The
On October 1, ABC purchases 100 units of inventory from XYZ for $100 per unit. These units had a cost of $60/unit to XYZ. The terms of the sale ate 1/15 n/45. On October 5, ABC returns 10 units to XYZ (there are no defects with the returned units). ABC pays for the inventory on October 9. On October 22, ABC sells 10 unigs of the inventory purchased on October 1 for $200 per unit on credit.
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