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ACC 231 Exam 2 Test Prep 2022-2023 Multiple Choice Identify the choice that best completes the statement or answers the question. 1. West, Inc. had beginning inventory of $10,000, purchases of $25,000 and ending inventory of $5,000. What is West's cost of merchandise sold? a. $10,000 b. $25,000 c. $5,000 d. $30,000 2. If a company purchased $2,000 of merchandise on account and paid for it during the discount period with the terms of 2/10, n/30, and the company uses the ...