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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
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 9 10 22 12 14 44 20 20 Purchased calculators from Sunland Co. at a total cost of $1,690, terms n/30. Paid freight of $50 on calculators purchased from Sunland Co. Returned calculators to Sunland Co. for $64 credit because they did not meet specifications. Sold calculators costing $510 for $760 to Fryer Book Store, terms n/30. Granted credit of $35 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $23. Sold calculators costing $680 for $850 to Heasley Card Shop, terms n/30.
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