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XYZ Inc. purchased $12.500 worth of merchandise on June 1, 2015 on credit. After inspecting the inventory, it determined that 20% of the items were
XYZ Inc. purchased $12.500 worth of merchandise on June 1, 2015 on credit. After inspecting the inventory, it determined that 20% of the items were defective and returned them to the supplier. Assuming a perpetual system, what is the balance of the Inventory account on the Balance Sheet after the items were returned? a. $10,000 b. $12,500 c. $15.000 d. $2.500
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Accounting Information Systems
Authors: Ulric Gelinas, Richard Dull, Patrick Wheeler
10th Edition
113393594X, 9781133935940
