Flounder Inc. is a retailer using the periodic inventory system. All sales returns from customers result in the goods being returned to inventory. (Assume that the inventory is not damaged.) Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Flounder Inc. for the month of January. Date Dec. 31 Jan. 2 Description Beginning inventory Quantity 160 Unit Cost or Selling Price 19 Purchase 100 23 Jan. 6 Sale 180 38 Jan. 9 Sale return 10 38 Jan. 9 Purchase 75 24 Jan. 10 Purchase return 15 24 Jan. 10 Sale 50 45 Jan. 23 Purchase 100 27 Jan. 30 Sale 120 51