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[ The following information applies to the questions displayed below. ] Autumn Company began the month of October with inventory of $ 2 5 ,

[The following information applies to the questions displayed below.]
Autumn Company began the month of October with inventory of $25,000. The following inventory transactions occurred during the month:
The company purchased inventory on account for $37,000 on October 12. Terms of the purchase were 210/, n30/. Autumn uses the net method to record purchases. The inventory was shipped f.o.b. shipping point and freight charges of $600 were paid in cash.
On October 31, Autumn paid for the inventory purchased on October 12.
During October inventory costing $19,500 was sold on account for $30,000.
It was determined that inventory on hand at the end of October cost $42,360.

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