Elkins Corporation Uses the Perpetual Inventory Method

question 13

Multiple Choice

Elkins Corporation uses the perpetual inventory method.On March 1, it purchased $10,000 of inventory, terms 2\10, n\30.On March 3, Elkins returned goods that cost $1,000.On March 9, Elkins paid the supplier.On March 9, Elkins should credit

• A)purchase discounts for $200.
• B)inventory for $200.
• C)purchase discounts for $180.
• D)inventory for $180.

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Definitions:

Persuasion

The act of influencing someone's beliefs, attitudes, intentions, motivations, or behaviors through argument, reasoning, or appeal to emotion.

Credibility

The quality of being trusted and believed in or the extent to which someone or something is convincing or believable.

Message

A piece of information or communication sent from one person or entity to another, often through verbal, written, or digital means.

Implicit Attitude

Attitudes that influence a person's feelings and behavior at an unconscious level.