question archive Purchase discounts should be reported as a(n): a) Deduction from the purchase cost of the goods
Purchase discounts should be reported as a(n): a) Deduction from the purchase cost of the goods
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Purchase discounts should be reported as a(n):
a) Deduction from the purchase cost of the goods.
b) Adjustment in full to the ending inventory amount.
c) Contra inventory account.
d) Adjustment in full to cost of goods sold.
Option 1
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Option 2
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