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3. Goodall Inc. uses a perpetual inventory system. During the months of October and November, Goodall sold goods to three customers. The sequence of events
3. Goodall Inc. uses a perpetual inventory system. During the months of October and November, Goodall sold goods to three customers. The sequence of events was as follows: Oct. 15 Sold 4 items of merchandise to Armstrong, Inc., who paid the $800 sales price in cash. The goods cost Goodall's $400. Sold 10 items of merchandise to Barrington Inc., at a selling price of $3,000 (total); terms 5/10, n/30. The goods cost Goodall's $1,500. 23 24 Sold 20 identical items of merchandise to Bailey's Inc., at a selling price of $12,000 (total); terms 3/10, n/30. The goods cost Goodall's $6,000. Bailey's Inc., returned 2 of the items purchased on the 23. Both items were in perfect condition and full credit was given to Bailey's Inc. 2 Bailey's Inc., paid its account balance in full. 22 Barrington Inc., paid in full for the invoice of October 20. Nov. Compute the total revenue Goodall would report over the two months
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