Metlock's Market recorded the following events involving a recent purchase of inventory: Received goods for $78200, terms 2/9, n/30. Returned $1700 of the shipment for credit. Paid $700 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by $74970. O increased by $75670. O increased by $77200. O increased by $75656.

Metlock's Market recorded the following events involving a recent purchase of inventory: Received goods for $78200, terms 2/9, n/30. Returned $1700 of the shipment for credit. Paid $700 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by $74970. O increased by $75670. O increased by $77200. O increased by $75656.

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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