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Which of the following statements regarding inventory is true? o A purchase discount is represented by a debit to Inventory in a perpetual inventory system.
Which of the following statements regarding inventory is true? o A purchase discount is represented by a debit to Inventory in a perpetual inventory system. A sale of goods shipped FOB Destination means that the seller is responsible for the freight cost. The cost of freight is paid for by the seller when it is shipped FOB Shipping Point. The customer keeps the merchandise when a purchase return is agreed upon
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