2. Sale of inventory. Now that News New Sales has goods on hand, the company can start providing merchandise to . The following transactions occurred in the month of May. Complete parts a, b, and customers. May 15 Sold inventory that had cost us $300 for $525 on account. Freight to get th merchandise to our customer cost us $50. May 20 Accepted a return of merchandise which was the wrong color for the customer We had sold the merchandise for $72: our cost was $56. May 29 Shipped merchandise that had cost us $790 to a customer for $1,050. The customer agreed to pay us in 30 days. May 30 Received a check for the May 15 sale. Record the transactions above using the periodic inventory system Periodic Inventory Entries