M6-5 Evaluating Inventory Cost Components [LO 6-3]

Assume Andersons General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $24,100. If Andersons paid National Trucking $760 cash for transportation, immediately returned goods to American Wholesaling costing $1,100, and then paid American Wholesaling within the 1/30, n/60 purchase discount period.

How much did this inventory cost Andersons? Assume Andersons uses a perpetual inventory system.

Thank you for your help in advance

23 M6-5 Evaluating Inventory Cost Components [LO 6-3] 0.78 points Assume Anderson's General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $24,100. If Anderson's paid National Trucking $760 cash for transportation, immediately returned goods to American Wholesaling costing $1,100, and then paid American Wholesaling within the 1/30, n/60 purchase discount period. How much did this inventory cost Anderson's? Assume Anderson's uses a perpetual inventory system. eBook Inventory Cost Print References