2. On June 1, Grill Master Ltd. had an inventory of 10 barbeques at a cost of $440 each. Grill Master uses a periodic inventory system. During the month of June the following June 3 5 6 7 13 16 Purchased 25 barbeques at a cost of $440 each from BBQ King Ltd., terms n/30. Paid $200 freight for the barbeques purchased on June 3. Sold 12 barbeques to Outdoor Grill for $760 each, terms 2/10, n/30. Received credit from BBQ King for the return of two defective barbeques Issued a credit to Outdoor Grill for the return of one defective barbeque. Received a credit from BBQ King for the defective barbeque returned by Outdoor Grill. Purchased 10 barbeques from Backyard Barbecues at a cost of $440 each, terms 2/10, n/30. 19 20 Paid freight of $200 on the June 19 purchase. On June 30, Grill Masters ending inventory was $6,440 Instructions (a) Prepare journal entries to record the above transactions. (4) (b) Calculate the cost of goods sold for June. (3)