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    Intermediate Accounting Reporting and Analysis Study Set 1
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    Exam 7: Inventories: Cost Measurement and Flow Assumptions
  5. Question
    McClure Corp
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McClure Corp

Question 22

Question 22

Multiple Choice

McClure Corp. purchased raw materials with a cost of $86,000. Credit terms of 3/10, n/60 apply. If McClure uses the net price method, the purchase should be recorded as


A) $77,400
B) $86,000
C) $83,420
D) $88,580

Correct Answer:

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