During the months of January, Ava Corporation purchased goods from two suppliers. The sequence of events was as follows: Jan. 6 Purchased goods for $1,120 from Noah with terms 2/10, n/30. 6 Purchased goods from Emma for $970 with terms 2/10, n/30. 14 Paid Noah in full. 30 Paid Emma in full.

During the months of January, Ava Corporation purchased goods from two suppliers. The sequence of events was as follows: Jan. 6 Purchased goods for $1,120 from Noah with terms 2/10, n/30. 6 Purchased goods from Emma for $970 with terms 2/10, n/30. 14 Paid Noah in full. 30 Paid Emma in full.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

During the months of January, Ava Corporation purchased goods from two suppliers. The sequence of events was as follows:

Jan.	6	Purchased goods for $1,120 from Noah with terms 2/10, n/30.
	6	Purchased goods from Emma for $970 with terms 2/10, n/30.
	14	Paid Noah in full.
	30	Paid Emma in full.

At the end of January, how will Ava's inventory increase by?

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