What is the freight charges

Reference no: EM131520926

Question: Refer to the information in BE6-10, but now assume that Shankar uses a periodic system to record inventory transactions. Record the purchase of inventory on February 2, including the freight charges.

BE6-10: Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2, 2012, for $30,000. In addition to the cost of inventory, the company also pays $500 for freight charges associated with the purchase on the same day. Record the purchase of inventory on February 2, including the freight charges.

Reference no: EM131520926

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