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Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September,

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Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred. Sept. 6 Purchased calculators from Blossom Co. at a total cost of $1,600, on account, terms n/30, 9 Paid freight of $40 on calculators purchased from Blossom Co. 10 Returned calculators to Blossom Co. for $50 credit because they did not meet specifications. 12 Sold calculators costing $450 for $600 to Fryer Book Store, on account, terms n/30. 14 Granted credit of $35 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $25. 20 Sold calculators costing $500 for $650 to Heasley Card Shop, on account, terms n/30

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