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What entry to record the cost of inventory will include a

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Problem 1: XYZ Store purchased merchandise for $2,300, terms 2/10 n/30. To get the merchandise ready for sale, XYZ also paid $100 for freight-in and $50 for insurance during transportation. The entry to record the cost of inventory will include a:

Option 1: credit to Accounts Payable $2,401

Option 2: debit to Cash $2450

Option 3: debit to Inventory $2,300

Option 4: debit to Inventory $2,450.

Reference no: EM132958982

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