a-company-purchases-inventory-worth-5000-returns-1000-worth-and-receives-a-purch

Question

A company purchases inventory worth $5,000, returns $1,000 worth, and receives a purchase allowance of $500. What is the net effect on inventory?

Accepted Answer

$3,500

Answer

$3,000

Answer

$5,500

Answer

$4,000

A company purchases inventory worth \$5,000, returns \$1,000 worth, and receives a purchase allowance of \$500. What is the net effect on inventory?