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Shankar Company uses a perpetual system to record inventory transactions The company purchases inventory on account on February 2 2015 for $40000 In addition to the cost of inventory the company

Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2, 2015, for $40,000. In addition to the cost of inventory, the company also pays $600 for freight charges associated with the purchase on the same day. Record the purchase of inventory on February 2, including the freight charges.

May 17 2020 View more View Less

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