Auto Parts Company Uses a Periodic Inventory System A) $26,300
B) $21,700
C) $24,700
D) $23,200

question 1

Multiple Choice

Auto Parts Company uses a periodic inventory system.Use the following details to calculate net purchases. $$\begin{array} { | l | r | } \hline \text { Beginning merchandise } & \\\text { inventory } & \$ 3,000 \\\hline \text { Ending merchandise inventory } & 2,200 \\\hline \text { Purchases } & 24,000 \\\hline \text { Purchase Discounts } & 800 \\\hline \text { Purchase Returns and } &\\\text { Allowances } & 1,500 \\\hline \text { Freight In } & 4,000 \\\hline\end{array}$$

• A) $26,300
• B) $21,700
• C) $24,700
• D) $23,200

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Definitions:

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