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 $1,200 fron Geen with teres 2/1e, n/30. January 6 Purchased goods from Munoz for $900 with terms 2/10,n/30. January 14 Paid Green in futt. February 2 Paid Munoz in futl. February 28 Purchased goods for $350 from Reynolds with terns 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. During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Purchased goods for $4,100 from Diamond Incorporated with terns 2/10,n/30. June 5 Returned goods costing $1,100 to Dianond Incorporated for credit on account. June 6 Purchased goods from Club Corporation for $1,00e with teras 2/10,n/30. June 11 Paid the balance owed to Diamond Incorporated. June 22 Paid club Corporation in futl. Required: Assume that Ace uses a perpetual inventory system and that the company had no inventory on hand at the beginning of the mon Calculate the cost of inventory as of June 30