Malone Corporation Uses the Perpetual Inventory Method

question 89

Multiple Choice

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

• A)purchase discounts for $600.
• B)inventory for $600.
• C)purchase discounts for $540.
• D)inventory for $540.

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Definitions:

Closing Stage

The final step in the sales process where the salesperson ensures that all of the customer's questions have been answered and seeks to complete the sale.

Selling Process

A series of steps taken by a salesperson to identify prospective buyers, communicate benefits, and close a sale.

Types Of Close

Various strategies or techniques used in sales to persuade a customer to make a purchase.

Stimulus-Response

A concept in psychology referring to the idea that a specific stimulus will elicit a predictable and measurable response from an individual or system.