Bridgeport Book Warehouse Ltd. distributes hardcover books to retail stores. At the end of May, Bridgeports inventory consists of 260 books purchased at $ 16each. Bridgeport uses a perpetual inventory system. During the month of June, the following merchandise transactions occurred:

June	1		Purchased 180 books on account for $ 14 each from Readers World Publishers, terms n/45.
	3		Sold 210 books on account to The Book Nook for $ 25 each, with an assumed average cost of $ 15, terms 2/10, n/45.
	5		Received a $ 140 credit for 10 books returned to Readers World Publishers.
	8		Sold 70 books on account to Read-A-Lot Bookstore for $ 21 each, with an assumed average cost of $ 15, terms 2/10, n/45.
	9		Issued a $ 252 credit memorandum to Read-A-Lot Bookstore for the return of 12 damaged books. The books were determined to be no longer saleable and were destroyed.
	11		Purchased 130 books on account for $ 14 each from Read More Publishers, terms n/45.
	12		Received payment in full from The Book Nook.
	17		Received payment in full from Read-A-Lot Bookstore.
	22		Sold 125 books on account to Readers Bookstore for $ 27 each, with an assumed average cost of $ 15, terms 2/10, n/45.
	25		Granted Readers Bookstore a $ 378 credit for 14 returned books. These books were restored to inventory.
	29		Paid Readers World Publishers in full.

Your answer is correct. Create a Taccount for the Inventory account. Enter the opening balance,post the June transactions related to Inventory,and determine the ending balance in the account. Inventory May 31 Bal. June 1 June 11 $4160 $2520 $1820 $210 $2495 $3,150 $140 $1050 $1875 June 3 June 5 June 8 June 25 June 22 June 30 B