Calculate the COGS and the Inventory balance for the end of the month 1-Jun	Purchased merchandise for $5,000 under credit terms of 1/10, n 30, FOB destination, invoice dated June 1.
5-Jun	Paid cash for freight charges of $150 directly to the shipper for the June 1 merchandise and reduced the amount of the invoice by this amount.
7-Jun	Sold merchandise for $3,500 under credit terms of 2/10, n/60, FOB destination, invoice dated June 7. The merchandise cost was $2,100.
11-Jun	Purchased merchandise for $6,000 under credit terms of 3/10, n/30, FOB shipping point, invoice dated June 11. Additional charge of $200 added to bill for shipping charges. (Discounts do not apply to freight charges)
11-Jun	Paid for the merchandise purchased June 1st.
15-Jun	Customer returned $500 of merchandise sold on June 7, inventory cost of $300.
20-Jun	Sold merchandise for $5, 500 under credit terms of 3/10, n30, FOB destination, invoice dated June 20. The merchandise cost was $3,300.
21-Jun	Paid for merchandise purchased on June 11th.
27-Jun	Purchased merchandise for $1,200 under credit terms of 2/10, n/30, FOB shipping point, invoice dated June 27. Additional charge of $175 added to bill for shipping charges.
29-Jun	Sold merchandise for $1,000 under credit terms of 2/10, n30, FOB shipping point, invoice dated June 29th. The merchandise cost was $600.