Littleton Books has the following transactions during May. May 2 Purchases books on account from Readers wholesale for $4,200, terms 2/10, 1/30. May 3 Pays cash for freight costs of $290 on books purchased from Readers. May 5 Returns books with a cost of $350 to Readers because part of the order is incorrect. May 10 Pays the full amount due to Readers. May 30 Sells all books purchased on May 2 (less those returned on May 5) for $4,900 on account. 2. Record the period-end adjustment to cost of goods sold on May 31, assuming the company has no beginning or ending Inventory (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet