Question: Help solving this problem please Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for

Help solving this problem please

Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $33,000. In addition to the cost of inventory, the company also pays $530 for freight charges associated with the purchase on the same day. Record the purchase of inventory on February 2, including the freight charges. Perpetual 2-Feb 2-Feb Periodic 2-Feb 2-Feb Chapter 7 Chapter 3

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