Elkins Corporation Uses the Perpetual Inventory Method

Multiple Choice

Elkins Corporation uses the perpetual inventory method.On March 1, it purchased $10,000 of inventory, terms 2\10, n\30.On March 3, Elkins returned goods that cost $1,000.On March 9, Elkins paid the supplier.On March 9, Elkins should credit

A) purchase discounts for $200.
B) inventory for $200.
C) purchase discounts for $180.
D) inventory for $180.