Saved Help Save Exit Submit On July 10, 2021, Tesla signed a purchase commitment to purchase inventory for $220,000 on or before February 15, 2022 The company's fiscal year end is December 31 The contract was exercised on February 1, 2022, and the inventory was purchased for cash at the contract price On the purchase date of February 1, the market price of the inventory was $230,000 The market price of the inventory on December 31, 2021, was $190,000 The company uses a perpetual inventory system At what amount will Tesla record the inventory purchased on February 1, 2022 Multiple Choice $190,000 O $230,000 $220,000 $200,000 nal exam Saved Help y 10, 2021, Tesla signed a purchase commitment to purchase inventory for $220,000 on or before February 15, 2022 The company's fiscal yea mber 31 The contract was exercised on February 1, 2022, and the inventory was purchased for cash at the contract price On the purchase date market price of the inventory was $230,000 The market price of the inventory on December 31, 2021, was $190,000 The company uses a perp ory system t amount will Tesla record the inventory purchased on February 1, 2022 Multiple Choice $190,000 $230,000 $220,000 $200,000

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Saved Help Save   Exit Submit On July 10, 2021, Tesla signed a purchase commitment to purchase inventory for $220,000 on or before February 15, 2022  The company's fiscal year end is December 31  The contract was exercised on February 1, 2022, and the inventory was purchased for cash at the contract price  On the purchase date of February 1, the market price of the inventory was $230,000  The market price of the inventory on December 31, 2021, was $190,000  The company uses a perpetual inventory system  At what amount will Tesla record the inventory purchased on February 1, 2022  Multiple Choice $190,000  O $230,000  $220,000  $200,000  nal exam Saved Help y 10, 2021, Tesla signed a purchase commitment to purchase inventory for $220,000 on or before February 15, 2022  The company's fiscal yea mber 31  The contract was exercised on February 1, 2022, and the inventory was purchased for cash at the contract price  On the purchase date market price of the inventory was $230,000  The market price of the inventory on December 31, 2021, was $190,000  The company uses a perp ory system  t amount will Tesla record the inventory purchased on February 1, 2022  Multiple Choice $190,000  $230,000  $220,000  $200,000

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Question: Saved Help Save & Exit Submit On July 10, 2021, Tesla signed a purchase commitment to purchase inventory for $220,000 on or before February 15,

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