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Sunland Company uses the perpetual inventory system and began business on August 1. During the month Sunland made inventory purchases of $ 8700, terms of
Sunland Company uses the perpetual inventory system and began business on August 1. During the month Sunland made inventory purchases of $ 8700, terms of 3/15, n/45. Sunland returned $300 worth of good the month, paid all suppliers in time to take advantage of all offered cash discounts during the moth and sold inventory with a value of $5600. These were the only inventory transactions during the month. What is the balance i the inventory account at the end of August? a. $2557 b. $2548 c. $8700 d. $2800
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