The Wilson Company purchased $27,000 of merchandise from the Poole Wholesale Company. Wilson also paid $2,000 for freight costs to have the goods shipped to its location. Which of the following statements regarding the necessary entries for the transactions is true? Wilson uses the perpetual inventory system. Total increases to the inventory account would be $29,000.
Total increases to the inventory account would be $27,000.
Transportation-in would be increased by $2,000.
Total increases to the inventory account would be $2,000.

Answer rating: 100% (QA)

Total inventory cost Merchandise cost Freight costs 27000 200... View the full answer