A summary of Oriole Auto Parts Company's transactions and the effects of each on the company's Inventory account are presented here. May 4: Purchase of $29,000 of inventory on account May 6: Paid $930 in freight charges May 8: Returned $710 of goods May 14: Paid within discount period and received a $350 purchase discount.

What is the ending balance in the Inventory account as a result of these transactions?

Answer rating: 100% (QA)

To find the ending balance in the Inventory account we need to calculate the net effe... View the full answer