Fantasy Company is a company that distributes consumer products. Perpetual inventory system is used by the company and the following transactions were completed in October. October 2 4 5e 8 93 10 12 18 250 e Purchased merchandise for $12,000 from Good Guy on account, terms 2/10, n/30, FOB shipping point, and invoice dated Oct. 2. Paid $200 cash for shipping charges on the purchase of Oct. 2. Purchased merchandise for $2,000 from Branch on account, terms 1/10, n/20, FOB destination, and invoice dated Oct. 5. Sold merchandise to Best-Value on account for $900, terms 2/10, n/45, FOB destination. The merchandise had cost $600. Paid $100 cash for shipping charges on the sale of Oct. 8. Best-Value returned merchandise from the Oct. 8 sale that had cost of $100 and was sold for $150. The merchandise was restored to inventory. Paid Good Guy the amount due from the Oct. 2 purchase. Received the balance due from Best-Value for the Oct. 8 sale less the return. Paid Branch the amount due from the Oct. 5 purchase. < Required: 1. Prepare journal entries to record the above transactions for Fantasy Company. (Explanation is not required) 2. Compute Fantasy Company's net sales for October. Show your calculation process. (12 marks) (2 marks) 3. Compute Fantasy Company's total cost of merchandise purchased in October. Show your calculation process. (2 marks)