Lowes sells merchandise to customers, Cost of inventory is 70% of the seiling price. - Lowes uses a gross method to account for sales discount on early receipt of accounts recelvables. - The terms for all Account Receivables are 2/10,n/30. - Merchandise becomes unreturnable after 5 months. In 2021, the beginning inventory for Lowes was \$1,000,000. Lowes' sales transactions during 20212022 are as follows: re the balances of net inventory at the end of 2021 and 2022 , respectively