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Yang Company purchased inventory for $50,000. The company paid $500 to inspect the inventory and $1,000 for freight-in. In addition, Yang Company returned $2,000 of
Yang Company purchased inventory for $50,000. The company paid $500 to inspect the inventory and $1,000 for freight-in. In addition, Yang Company returned $2,000 of this inventory due to defects. At what amount should Yang Company report this inventory on the financial statements?
Group of answer choices
$50,000
$52,000
$49,500
$46,500
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