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Question

Wilma's Foods recorded the following events involving a recent purchase of inventory:

   Received goods

for $45,000, terms 1/10, n/30.

   Returned $1,000 of the shipment for credit.

   Paid $250 freight on the shipment.

   Paid the invoice within the discount period.

The company uses the perpetual inventory system. As a result of these events, the company's inventory

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