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Smith Company purchased inventory for $ 6 , 8 0 0 on account with the freight terms FOB destination. Smith Company then sold the inventory

Smith Company purchased inventory for $

6, 800

on account with the freight terms FOB destination. Smith Company then sold the inventory to customers for $

11, 600

cash with freight terms FOB shipping point. In both cases, the freight carrier charged $

780

for shipping. Based on this information,

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