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3 March, 03:51

Tony's Market, which uses a perpetual inventory system, recorded the following events involving a recent purchase of inventory: - received goods for $30,000, terms 2/10, n/30 (recorded discount upon receipt of goods - returned $600 of the shipment for credit - paid $150 for freight on the shipment from the trucking company - paid the invoice within the discount period As a result of these events, the company's inventory:

A. increased by $28,812

B. increased by $29,550

C. increased by $28,959

D. increased by $28,962

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  1. 3 March, 06:52
    0
    company's inventory increase = $28962

    so correct option is D. increased by $28,962

    Explanation:

    given data

    purchase of inventory = $30,000

    returned = $600

    credit paid = $150

    to find out

    the company's inventory will be

    solution

    company's inventory increase here by

    so we know = purchase - returned - discount + credit paid

    = 30000 - 600

    = $29400

    and discount = 2% of 29400 = 588

    so company's inventory increase = 29400 - 588 + 150

    company's inventory increase = $28962

    so correct option is D. increased by $28,962
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