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please help me solve this During the months of January and February, Axen Corporation purchased goods from three suppliers. The sequence of events was as
please help me solve this
During the months of January and February, Axen Corporation purchased goods from three suppliers. The sequence of events was as follows: Jan. 6 Purchased goods for $3,080 from Green with terms 2/10,n/30 6 Purchased goods from Munoz for $2,340 with terms 2/10,n/30 14 Paid Green in full Feb. 2 Paid Munoz in full 28 Purchased goods for $710 from Reynolds with terms 2/10,n/45 Required: Assume that Axen uses a perpetual inventory system, the company had no inventory on hand at the beginning of January, and sales were made during January and February. Calculate the cost of inventory as of February 28Step by Step Solution
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