Question: please explain step by step why the anser is 250,000 ***175000 Lowes sells merchandise to customers. Cost of inventory is 70% of the selling price.

please explain step by step why the anser is 250,000

***175000

Lowes sells merchandise to customers. Cost of inventory is 70% of the selling price. - Lowes uses a gross method to account for sales discount on early receipt of accounts receivables. - The terms for all Account Recelvables are 2/10, n/30. - Merchandise becomes unreturnable after 5 months. In 2021, the beginning inventory for Lowes was \$1,000,000. Lowes' sales transactions during 2021-2022 are as folle What is the net account receivable balance at the end of 2021

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