A Company Purchased Inventory for $74,000 from a Vendor on Account,FOB

question 14

Multiple Choice

A company purchased inventory for $74,000 from a vendor on account,FOB shipping point,with terms of 3/10,n/30.The company paid the shipper $1,500 cash for freight in.The company paid the vendor nine days after the sale.If there was no beginning inventory,the cost of inventory would be ________.(Assume a perpetual inventory system. )

• A)$73,280
• B)$75,500
• C)$70,280
• D)$72,500

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Definitions:

ActionListener Interface

An interface in Java used for receiving action events, typically from user interface elements like buttons.

actionPerformed

A method typically used in graphical user interface programming to handle the event of an action being performed.

Pixel

The smallest unit of an image displayed on a screen, often consisting of components like red, green, and blue.

Inheritance

A principle in object-oriented programming that allows a class to inherit properties and methods from another class, promoting reusability.