Question
WAXS-D, merchandisers of musical instruments, has provided the following details. Mar. 5 Inventory purchased on account $725,000 Mar. 8 Freight in 35,000 Mar. 13
WAXS-D, merchandisers of musical instruments, has provided the following details. Mar. 5 Inventory purchased on account $725,000 Mar. 8 Freight in 35,000 Mar. 13 Purchase returns 55,000 Mar. 14 Allowances by vendor 12,000 Mar. 20 Payment made to vendor for purchases on March 5 ? Credit terms are: 4/20, n/45, FOB shipping point. Calculate the net cost of inventory purchased assuming that there are no other inventory-related transactions during the month. OA. $713,000 OB. $658,000 OC. $666,680 OD. $665,280
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