hesented here are selected transactions for Shaoshi Inc. during October of the current year. Shaoshi Jses a perpetual inventory system. Oct. 10 12 15 l? 20 Purchased merchandise on account from Micron Ltd. at a cost of $65,000, terms 1.05, m'30, FOB shipping point. Freight charges of $1,600 were paid by the appropriate party on the October 1 purchase of merchandise. Returned for credit $7,000 of damaged goods purchased from Micron on October 1. Sold the remaining merchandise purchased from Micron to Guidant Corp. for $100,033 on account, with a cost of $59,600, terms 2110, nf30, FOB destination, Freight charges of $2,300 were paid by the appropriate party on the October 3 sale of merchandise. Guidant returned damaged merchandise that was purchased on October 3 for a $4,000 credit on account. The merchandise originally cost $2,334 and was not restored to inventory. Purchased supplies for $5,000 cash. Purchased merchandise for $7,500 cash. Received the balance owing from Guidant. Purchased equipment on account for $45,000