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Swifty Corporationco uses the perpetual inventory and the gross method. On March 1, it purchased $66000 of inventory, terms 2/10, n/30. On March 3, Swifty
Swifty Corporationco uses the perpetual inventory and the gross method. On March 1, it purchased $66000 of inventory, terms 2/10, n/30. On March 3, Swifty returned goods that cost $7400. On March 9, Swifty paid the supplier. On March 9, Swifty should credit
inventory for $1320.
inventory for $1172.
purchase discounts for $1172.
purchase discounts for $1320.
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