Littleton Books has the following transactions during May. May 2 Punchases books on account fron Readers Wholesale for $3,500, terms 2/10,n/30. May 3 Pays cash for freight costs of $220 on books purchased from Readers. May 5 Meturns books with a cost of $300 to Readens because part of the order is incorrect. May 10 Pays the full anount dee to Readers. May 30 Sells all books purchased on May 2 (less those returned on May 5) for \$4, 200 on account. Required: 1. Record the transactions of Litteton Books, assuming the company uses a periodic inventory system. 2. Record the period-end adjusting entry to cost of goods sold on May 31, assuming the company has no beginning of ending inventory. Record the beriod-end adjusting entry to cost of poods sold on May 31, assuming the company has no beginning of ending