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What is the ending balance in the inventory account

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Question - Touch Tronix, Inc. sells component parts to Advanced Communications, Inc. a cell phone manufacturer. On December 10, 2017, Touch Tronix, Inc. sold €1,020,000 of goods to Advanced Communications, Inc. on account for €1,320,000. Terms of the sale were 2/10, net 30. Advanced Communications, Inc. paid €19,500 in freight charges. On December 18, 2017, Advanced Communications, Inc. paid the account in full. Advanced Communications, Inc. uses a perpetual inventory system.

New fact: On December 13, 2017, Advanced Communications, Inc. returned 5% of the goods due to inferior quality.

Different question: If Advanced Communications, Inc. has not yet sold any of these goods, what is the ending balance in the inventory account after the payment is made?

Reference no: EM133091416

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