Question: M6-5 Evaluating Inventory Cost Components [LO 6-3] Assume Anderson's General Store bought on credit, a truckload of merchandise from American Wholesaling costing $25,000. If Anderson's
M6-5 Evaluating Inventory Cost Components [LO 6-3] Assume Anderson's General Store bought on credit, a truckload of merchandise from American Wholesaling costing $25,000. If Anderson's paid National Trucking $850 cash for transportation, immediately returned goods to American Wholesaling costing $1,100, and then paid American Wholesaling within the 1/30, 1/60 purchase discount period. How much did this inventory cost Anderson's? Assume Anderson's uses a perpetual inventory system. Inventory Cost
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