explanations from journal entries. Assume the company records sales at the net amount.) (Click the icon to view the transactions.) Nov. 8: Returned half of the inventory purchased on November 4 from Vinman Company. Nov. 10: Sold merchandise inventory for cash, $1,300. Cost of goods, $520. FOB destination. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the fop. More info Nov. 4: Purchased merchandise inventory on account from Vinman Company, $9,600. Terms 2/10, n/EOM, FOB shipping point