1. Section 3-INVENTORY RECORDKEEPING USING THE PERIODIC METHOD On April 10, MDC orders inventory with an invoice price of $18,000, FOB destination. MDC receives the goods and invoice on April 13 and pays the invoice in full on April 20. On April 30, the inventory is sold for $25,000 cash. Prepare the journal entries to record each transaction under the periodic method. McClain Enterprises orders inventory that lists for $4,000, including $100 for shipping, and is offered a 10% trade discount. Terms are FOB shipping point. McClain receives the shipment, but before paying the invoice, McClain sees that half the units are damaged and returns them. Prepare the journal entries to record each transaction under the periodic method