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Calculate dollar amount that debra will have in inventory

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Debra Company began operations on June 1. The following transactions took place in June:

a. Purchases of merchandise on account were $450,000.

b. The cost of freight to receive the inventory was $15,000. This was paid in cash.

c. Debra returned $7,500 of the merchandise due to an ordering error. Debra received a full credit for the return.

d. Debra paid the remaining balance for the merchandise.

Question 1: Calculate the dollar amount that Debra will have in inventory at the end of the month. Assume Debra uses the perpetual inventory system and there were no sales.

Reference no: EM132689714

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