Shell Company purchased merchandise inventory with an invoice price of $4,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Grant Company pays within the discount period? a. $4,000 O b. $3,600. O c. $3,680 O d. $3,920

Shell Company purchased merchandise inventory with an invoice price of $4,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Grant Company pays within the discount period? a. $4,000 O b. $3,600. O c. $3,680 O d. $3,920

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 4C

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Question

q11)This multible choice question from ACCOUNTING PRINCIPLES I.just write for me the final answer.

11
Shell Company purchased merchandise inventory with an invoice price of $4,000 and credit terms of
2/10, n/30. What is the net cost of the goods if Grant Company pays within the discount period?
a. $4,000
b. $3,600.
O c. $3,680
O d. $3,920

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