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Patterson Music purchased inventory for $5,700 and also paid a $450 freight bill. Patterson Music returned 35% of the goods to the seller and later
Patterson Music purchased inventory for $5,700 and also paid a $450 freight bill. Patterson Music returned 35% of the goods to the seller and later took a 2% purchase discount. Assume Patterson Music uses a perpetual inventory system. What is Patterson Music's final cost of the inventory that it kept? Round your answer to the nearest whole number. 
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
