On March 1, Tina Cycle Store had an inventory of 100 bicycles at a cost of $300 each. During the month of March, the following transactions occurred. March. 4 Purchased bicycles at a cost of $4000 from Wim Cycle Company, terms 2/10, n/30. Paid freight of &$120 cash Sold bicycles to Team UAE for $4800, terms 2/10, n/30, cost of $3,000 Received credit from Wim Cycle Company for the return of defective bicycles for $600. 13 Issued a credit memo to Team UAE for the return of defective bicycles for $900, cost of $300 14 Paid Wim Cycle Company full net amount. Inventory Cost Flow Method 1/1 50 6/2 50 13/9 150 100 units @ units @ units @ units @ units @ $1.00 $1.10 $1.20 $1.30 $1.40 $50 $55 $180 $130 $210 20/10 25/11 150 %3D Units Purchased: 500 units $625 Toso Company uses the periodic inventory system to account for inventories. Information related to Toso Company's inventory at October 31 is given below: 400 units @ 10.00 = 800 units @ 10.40 = 600 units @10.80 = 200 units @ 11.60 = 2.000 units 4,000 8,320 6,480 2.320 21.120 Beginning inventory Purchase October 8 16 Purchase Purchase Total units and cost 24