Merchandise costing $511 is sold for $1,496 on terms 2/10, n/30. If the buyer pays within the discount period, When collection of cash within the 10days, the credit to Accounts Receivable will be $

Use the information below to answer the following question. the boxwood company sells blankets for $60 each. the following was taken from the inventory records during may. the company had no beginning inventory on may 1. date blankets units cost may 3 purchase 5 $20 10 sale 3 17 purchase 10 $24 20 sale 6 23 sale 3 30 purchase 10 $30 assuming that the company uses the perpetual inventory system, determine the gross profit for the month of may using the lifo cost method.