QUESTION 20 A buyer purchased $8,200 in merchandise inventory on August 1. On August 9, the buyer returned $700 of the merchandise and failed to take advantage of the vendor's credit terms of 2/15, n/45, and instead paid the invoice in full at the end of 45 days. By not taking advantage of the cash discount, the buyer lost the discount of: QUESTION 21 March 1, a company had beginning inventory with a cost $50,000 during the month of March they purchased $225,000. The company also paid shipping costs of $2,900. During the month of March the company incurred selling expenses of $10,000. The ending inventory at the end of March was $65,500. Calculate the amount of cost of goods sold for the month of March