Shamus Enterprises recorded the following events involving a recent purchase of inventory: . Purchased goods on account for $110,000, terms 2/10, 1/30 Returned $10,000 of the goods previously purchased on account Paid $1,000 freight on the shipment Paid the invoice within the discount period As a result of these transactions, by how much did the company's inventory increase? Answer: 4 On April 6, Rockon Company, which uses a perpetual inventory system, purchased $2,000 of merchandise on account, with credit terms of 3/10, n/30. On April 10, it returned $500 of the merchandise. When Rockon Company pays its account on April 14, by how much will Accounts Payable decrease? ut of Answer: For a company that uses a perpetual inventory system, which of the following transactions have no effect on the Inventory account in other words, neither increases (debits) nor decreases (credits) the Inventory account? Select all that apply Select one or more The company pays for freight on goods it purchased. The company sells merchandise to a customer. The company pays freight to ship merchandise it sold to a customer. The company pays for goods it previously purchased, receiving a discount for paying within the discount period