A Company Using the Perpetual Inventory System Purchased Inventory Worth

question 187

Multiple Choice

A company using the perpetual inventory system purchased inventory worth $21,000 on account with terms of 3/10,n/30.Defective inventory of $1,000 was returned two days later,and the accounts were appropriately adjusted.If the invoice is paid within 10 days,the amount of the purchase discount that would be available to the company is ________.

• A)$600
• B)$660
• C)$630
• D)$620

---

Definitions:

Basic Group Goals

Fundamental objectives pursued by a group, such as task completion, member satisfaction, or effective decision-making, that guide their activities and interactions.

Extended Period

A lengthy duration of time that is longer than usual or expected, often referring to timelines for projects or significant tasks.

Social Group

A collection of individuals who interact with each other, share similar characteristics, and collectively have a sense of unity.

Intimate Details

Very personal, private, or detailed information about someone or something, typically shared in a close or confidential context.