During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows: January 6 Purchased goods for $800 from Green with terms 3/12, n/45. January 6 Purchased goods from Munoz for $600 with terms 2.5/12, n/45. January 14 Paid Green in full. February 2 Paid Munoz in full. February 28 Purchased goods for $100 from Reynolds with terms n/45. Required: Assume that Axe uses a perpetual inventory system, the company had no inventory on hand at the beginning of January, and no sales were made during January and February. Calculate the cost of inventory as of February 28. Cost of Inventory

During the months of January and February, Solitare Corporation sold goods to two customers. The sequence of events was as follows: January 6 sold goods for $160 to wizard Incorporated with terms 2/30, n/60, The goods cost Solitare $73. January 6 sold goods to spyder Corporation for $89 with terms 2/10, n/30. The goods cost 5011 tare $63. January 14 Coltected cash for the anount due fron Wizard Incorporated. February 28 Collected cash for the asount due from 5pyder Corporatian. Required: Compute the Net Sales Solitare would report over the two months. (Do not round intermediate calculations. Round your answer to 2 decimal places.)