chapter 5 S5-3.docx - S5u20133 Suppose Marks uses the...

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S5–3 Suppose Marks uses the perpetual inventory system to purchase T-shirts on account for $15,000 from an overseas supplier. It cost Marks $1,000 FOB supplier to ship the T-shirts as well as duty and excise fees of $200. Marks was also fined $300 for unloading the inventory in an unauthorized area.

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