Exercise 6-17 (Algo) Record transactions using a periodic system (LO6-8) Lmiloton Books has the following transactions during May. May 2 Purchases books on inccount from Rebders Wholesale for: $2,300, teras 2/20,n/3a. Hay 3 Pays cash for freight costs of $164 on books purchased from lleaders. May 5 keturas books with a cost of $300 to Readers because part of the onder is incorrect. May 18 pays the full aaount due to Readers. May 3 i Sells all books purchased on May 2 (less those returned on May 5 ) for $3, 000 on account. Required: 1. Record the transactions of Littleton Books, assuming the company uses a periodic inventory system. 2. Record the period-end adjusting entry to cost of goods sold on May 31, assuming the company has no beginning or ending Inventory: Complete this question by entering your answers in the tabs below. Record the transactions of Littleton Books, assuming the company uses a poriodic inventory system. (If no entry is required for a transaction/event, select" No Journal Entry Required" in the first account field.) Journal entry worksheet Required: inventoy. boob poochased fres Featers. x 6 . Heceris cast af inventar rald