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two accounting question A sales invoice included the following information: merchandise price, $9,000; terms 1/10, n/eom; FOB shipping point with prepaid freight of $498 added

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A sales invoice included the following information: merchandise price, $9,000; terms 1/10, n/eom; FOB shipping point with prepaid freight of $498 added to the invoice. Assuming that a credit for merchandise returned of $1,000 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller? A. $8,418 B. $1,000 C. $9,000 D. $9,403 The following units of an inventory item were available for sale during the year: Beginning inventory 10 units at $49 First purchase 16 units at $53 Second purchase 26 units at $57 Third purchase 19 units at $63 The firm uses the periodic inventory system. During the year, 51 units of the item were sold. The value of ending inventory using LIFO is A $1,020 B. $1,265 C. $490 D. $1,510 Snited States) O Focus

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