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    speedytyper1's Avatar
    speedytyper1 Posts: 1, Reputation: 1
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    #1

    Feb 23, 2009, 01:01 PM
    Purchase discounts account
    How is a recorded cost of a purchased item used in the Purchase discount account?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Feb 23, 2009, 06:17 PM

    It depends on what method you are using, either the Gross method or the Net method and what type of inventory system you are using, either Prepetual or Periodic inventory system.
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