Question: Question 7 A company uses the gross method when purchasing inventory. Purchase discounts lost are: Added to accounts payable. Included in inventory purchased. Deducted from

Question 7 A company uses the gross method when purchasing inventory.

Question 7 A company uses the gross method when purchasing inventory. Purchase discounts lost are: Added to accounts payable. Included in inventory purchased. Deducted from discount income. Included as a reduction to purchase returns. Question 8

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