Question: eBook Question Content Area Purchase-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Niles Co. during March of the current year:

eBook Question Content Area Purchase-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Niles Co. during March of the current year: Mar. 1. Purchased merchandise from Haas Co., $18,000, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $350 was added to the invoice. 5. Purchased merchandise from Whitman Co., $13,900, terms FOB destination, n/30. 10. Paid Haas Co. for invoice of March 1. 13. Purchased merchandise from Jost Co., $9,800, terms

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