Homework Answers
Invoice cost of merchandise purchases = $100,000
Cost of transportation in = $500
Purchase returns and allowances = $400
Purchase discount = $9,000
Net cost of inventory purchased = Invoice cost of merchandise purchases + Cost of transportation in - Purchase returns and allowances - Purchase discount
= 100,000 + 500 - 400 - 9,000
= $91,100
Third option is correct.
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