During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Purchased goods for $3,200 fron Diamond Inc. with terms 2/10, n/30 5 Returned goods costing $1,100 to Diamond Inc. for full credit 6 Purchased goods from Club Corp. for $1,eee with terms 2/10, 1/30 11 Paid the balance owed to Diamond Inc. 22 Paid Club Corp. in full Required: Assume that Ace uses a perpetual inventory system and that the company had no inventory on hand at the beginning of the month. Calculate the cost of inventory as of June 30. Purchases Cost of inventory as of June 30