On August 1,Patron Company recorded purchases of inventory of $80,000 and $100,000 under credit terms of 2/15,net 30.The payment due on the $80,000 purchase was remitted on August 14.The payment due on the $100,000 purchase was remitted on August 29.Under the net method and the gross method,these purchases should be included at what respective net amounts in the determination of cost of goods available for sale?

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The Answer of On August 1,Patron Company recorded purchases of inventory of $80,000 and $100,000 under credit terms of 2/15,net 30.The payment due on the $80,000 purchase was remitted on August 14.The payment due on the $100,000 purchase was remitted on August 29.Under the net method and the gross method,these purchases should be included at what respective net amounts in the determination of cost of goods available for sale?

On August 1,Patron Company Recorded Purchases of Inventory of $80,000