Aug. 1Purchased supplies for $2,500 cash. 3Purchased inventory on account from Kenliwa Corp. at a cost of $35,000, terms 2/20, n/45, FOB shipping point. 4Freight charges of $1,200 were paid by the appropriate party on the August 3 inventory purchase. 6Sold goods costing $10,000 to Penkwa Limited for $25,000 on account, terms n/30, FOB destination. 7Freight charges of $500 were paid by the appropriate party on the August 6 sale of inventory. 9Returned damaged goods costing $3,000 that were originally purchased from Kenliwa on September 3. Received a credit on account.10Purchased equipment on account for $45,000, terms n/45, FOB destination.11Freight charges of $650 were paid by the appropriate party on the August 10 purchase of equipment.13Purchased inventory for $3,000 cash.15Received the balance due from Penkwa.22Paid Kenliwa the balance due.26Sold inventory costing $15,000 to Makoons Inc. for $30,000 on account, terms n/45, FOB shipping point.27Freight charges of $750 were paid by the appropriate party on the August 26 sale of inventory.30Makoons returned goods sold for $1,200 that cost $650. The merchandise was restored to inventory.

determine cost of goods sold and sales