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Question 8 (7 points) Fish Creek Candies uses a perpetual inventory system. July 10 Uncle Charlie's purchased $6,000 of candy from Fish Creek Candies, FOB
Question 8 (7 points) Fish Creek Candies uses a perpetual inventory system. July 10 Uncle Charlie's purchased $6,000 of candy from Fish Creek Candies, FOB destination, terms 2/10,n/30. July 12 Damaged goods totaling $450 are returned to Fish Creek for credit. The fair value of these goods is $300. Fish Creek grants an additional allowance of $100 for goods with damaged packaging that Uncle Charlie's agrees to keep. July 19 Uncle Charlic's pays Fish Creck in full, less the returns and discount
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