Current Attempt in Progress Wildhorse Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April 1. 2. 3 Purchased merchandise from Swifty Ltd. for $34,160, terms n/30, FOB shipping point. The appropriate company paid freight costs of $854 on the merchandise purchased on April 3. Purchased supplies on account for $6,100. Returned merchandise to Swifty and received a credit of $4,270. The merchandise was returned to inventory for future resale. Paid the amount due to Swifty in full. 3. 6 7 Additional information: 8 30 The cost of the merchandise sold on April 3 was $23,180. Swifty expected a return rate of 15%. The cost of the merchandise returned on April 8 was $2,806. Swifty uses a perpetual inventory system.

Wildhorse Corp. uses a perpetual inventory system. The company had the following inventory transactions in Aprit: April 3 Purchased merchandise from Swifty Ltd. for $34,160, terms n/30, FOB shipping point. 6 The appropriate company paid freight costs of 5854 on the merchandise purchased on April 3. 7 Purchased supplies on account for $6,100. 8 Returned merchandise to Swifty and received a credit of $4,270. The merchandise was returned to inventory for future resale. 30 Paid the amount due to Swifty in full. Additional information: 1. The cost of the merchandise sold on April 3 was $23,180. Switty expected a return rate of 15% 2. The cost of the merchandise returned on April B was $2,806 3. Swifty uses a perpetual imventory system