keep track of inventory T-Account

5/1 5/2 5/5 5/7 5/8 5/9 5/29 5/30 Bill's Music sells CDs. They have the following transactions for May. Purchase 700 CDs on account (2/10 n30 FOB Shipping) at $3 each and put into inventory Freight on the 5/1 purchase was $10 Pay in cash Sell 50 CDs for $600 - on account. CDs sold cost $150 Terms are 1/10 n30 Return 20 of the CDs purchased on 5/1 - defective ($3 each) $60 Pay for the CDs (not the freight) purchased on 5/1 - net of returns/discount Receive Payment for sale on 5/5 Pay salaries of $500 Inventory Buy 80 more CDs at 54 each - cash Sell 30 CDs for $500 - all cash. CDs sold cost $320 What is the ending balance of the Inventory Account Use the space below to make all entries for the month. ACCOUNT DEBIT 1-Mayl 5/31 CREDIT 2-May 5-May 7-May 8-May 9-May 29-May 30-May 31-May