Xavier Industries recorded the following events involving a recent purchase of inventory: Purchases merchandise for $100,000; Returned $17,000 of the merchandise for credit; Paid $2,000 freight on the shipment. As a result of these events, the company's inventory increased by $82,700. increased by $85,000. increased by $87,000. increased by $90,000.

Xavier Industries recorded the following events involving a recent purchase of inventory: Purchases merchandise for $100,000; Returned $17,000 of the merchandise for credit; Paid $2,000 freight on the shipment. As a result of these events, the company's inventory increased by $82,700. increased by $85,000. increased by $87,000. increased by $90,000.

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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