explain how Mathis Company and Reece Company use the perpetual inventory system. The
following transactions occurred during the month of Aprit a. On Aprit 1, Mathis purchased
merchandise on account from Reece with credit terms of 2/10, n/30. The sisiling prico of the
merchandise was $3,800, and the cost of the merchandise sold was $2,450. b. On April 1, Mathis
pald frelght charges of 5100 cash to have the goods delivered to its warchouse. C. On April 8,
Mathis returned $1,000 of the merchand 50, which had originally cost Reece $700. d. On April
10, Mathis pald Reece the balance due..
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explain how Mathis Company and Reece Company use the perpetual inve.pdf
1. explain how Mathis Company and Reece Company use the perpetual inventory system. The
following transactions occurred during the month of Aprit a. On Aprit 1, Mathis purchased
merchandise on account from Reece with credit terms of 2/10, n/30. The sisiling prico of the
merchandise was $3,800, and the cost of the merchandise sold was $2,450. b. On April 1, Mathis
pald frelght charges of 5100 cash to have the goods delivered to its warchouse. C. On April 8,
Mathis returned $1,000 of the merchand 50, which had originally cost Reece $700. d. On April
10, Mathis pald Reece the balance due.
