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Vlada [557]
3 years ago
14

Tony’s Market recorded the following events involving a recent purchase of inventory: Received goods for $80,000, terms 2/10, n/

30. Returned $1,600 of the shipment for credit. Paid $400 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company’s inventory
A. increased by $76,832.
B. increased by $78,800.
C. increased by $77,224.
D. increased by $77,232.
Business
1 answer:
kap26 [50]3 years ago
4 0

Answer:

Correct option is D

Answer is increased by $ 77232

Explanation:

Effect on Inventory:    

Increase due to purchase $80000  

Decrease due to return   -$1600  

Increase for freight paid  $400  

Decrease for discouont availed -$1568 (78400*2%)

<u>Net Increase in Inventor =$77,232</u>

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