1)Record the September transactions.

2)Create T accounts for the Inventory and Cost of Goods Sold accounts. Enter the opening balances and post the September transactions

3)Determine the ending balances of inventory and cost of goods sold in both dollars and quantities.

On September 1, the beginning of its fiscal year, Thietke Company Ltd. had an inventory of 97 calculators at a cost of $21 each. The company uses a perpetual inventory system. During September, the following transactions occurred:

Sept.	2		Purchased 806 calculators for $21 each from Digital Corp. on account, terms n/30.
	10		Returned 10 calculators to Digital for $210 credit because they did not meet specifications.
	11		Sold 245 calculators for $30 each to Thietke Book Store, terms n/30.
	14		Granted credit of $300 to Thietke Book Store for the return of 10 calculators that were not ordered. The calculator were restored to inventory.
	21		Sold 280 calculators for $30 each to Student Card Shop, terms 1/10, n/30.
	29		Paid Digital the amount owing.
	30		Received payment in full from the Student Card Shop.