A Company Purchased Inventory for $3,000 from a Vendor on Account,FOB

question 6

Multiple Choice

A company purchased inventory for $3,000 from a vendor on account,FOB shipping point,with terms of 2/10,n/30.The company paid the shipper $100 cash for freight in.The company then returned damaged goods worth $200.The invoice was then paid eight days after the purchase.Assuming that there was no beginning inventory balance,the cost of inventory would be ________.(Assume a perpetual inventory system. )

• A)$2,744
• B)$2,844
• C)$2,900
• D)$2,940

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Definitions:

Cognitive Therapy

A form of psychotherapy that seeks to alleviate psychological stresses by correcting faulty conceptions and self-signals.

Systematic Desensitization

A behavioral therapy technique used to treat phobias and other behavior disorders through controlled exposure to the stimuli causing the disorder, combined with relaxation techniques to reduce anxiety.

Psychodynamic Therapy

A therapeutic approach emphasizing the exploration of the unconscious mind and its influence on human behavior, rooted in psychoanalytic theory.

Cognitive Therapy

A form of psychotherapy that focuses on changing unhelpful thinking patterns, beliefs, and attitudes to improve emotional regulation and develop personal coping strategies.