Glen Company uses the perpetual inventory system. The company entered into the following events: 1)Purchased merchandise inventory that cost $10,000 under terms of 2/10, n/30.2)Made payment to the supplier within the discount period.3)Sold all of the goods to customers on account for $22,000.What is Glen's cost of goods sold as a result of these three transactions?

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The Answer of Glen Company uses the perpetual inventory system. The company entered into the following events: 1)Purchased merchandise inventory that cost $10,000 under terms of 2/10, n/30.2)Made payment to the supplier within the discount period.3)Sold all of the goods to customers on account for $22,000.What is Glen's cost of goods sold as a result of these three transactions?

Glen Company Uses the Perpetual Inventory System