Home Work The Fedora Company had a beginning inventory balance of $25,750 and engaged in the following transactions during the month of June. June 2 Purchased $4,000 of merchandise inventory on account from Plumes Incorporated with terms 2/10,n/30 and FOB destination. Freight costs associated with this purchase were $225. June 4 Returned $400 of damaged merchandise to Plumes Incorporated June 6 Sold $7,000 of merchandise to Fancy Caps on account, terms 1/15,/30 and FOB shipping point. Freight costs were $125. The cost of the inventory sold was $3,500. June 9 Paid the amount owed to Plumes Incorporated June 10 The Fedora Gompany granted Fancy Caps an allowance on the June 6 sale of $300 for minor damage found on several pieces of merchandise. June 22 Received total payment owed from Fancy Caps June 24 Paid sales salaries of $1,850 June 25 Paid the rent on the showroom of $1,200