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S6-3. (Learning Objective 1: Show how to account for inventory transactions) Marshall Company made total purchases of $260,000 in the most current year. It paid
S6-3. (Learning Objective 1: Show how to account for inventory transactions) Marshall Company made total purchases of $260,000 in the most current year. It paid freight in of $3,500 on its purchases. Freight out, the cost to deliver the merchandise when it was sold to Marshall's customers, totaled $7,500. Of the total purchases Marshall made during the period, it returned $25,500 of the merchandise. Marshall took advantage of $2,800 of purchase discounts offered by its vendors. What was Marshall's cost of inventory
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