Ly Lab 4 - Chap 4 & 5 (Question 6) ~ Lyryx Learning Inc - Google Chrome X Alifa1.lyryx.com/student-servlets/LabServlet?ccid=11307 lyryx Spreadsheet Print Preferences Help Lab 4 - Chap 4 & 5 (Question 6) Name: - Amandeep Kaur Date: 2022-06-18 Question 6 [10 points] The following transactions occured during 2014 for Bentley Inc. which uses a perpetual inventory system : (a) August 1: Bentley Inc. sold merchandise to ABC Inc. for $9, 100 under credit terms of 2/10, n/60, FOB shipping point. The merchandise had cost $7,280. (b) August 1: Bentley Inc. purchased merchandise from Vision Consulting Inc. for $5,200 under credit terms of n/60, FOB destination. (c) August 2: Bentley Inc. purchased merchandise from Courtland Corp. for $6,400 under credit terms of n/60, FOB shipping point. (d) August 3: Paid $300 shipping charges related to the August 2 purchase of merchandise. (e) August 5: Bentley Inc. sold merchandise to Weber Inc. for $5,600 under credit terms of 2/15, n/30, FOB shipping point. The merchandise had cost $4,480. (f) August 9: Received a $700 credit memorandum acknowledging the return of merchandise purchased on August 1. (g) August 10: Issued a $1,300 credit memorandum to ABC Inc. for an allowance on goods sold on August 1. (h) August 12: Bentley Inc. purchased merchandise for cash from United Corporation, $1,300, FOB destination. (i) September 4: Received Weber Inc.'s payment of the amount due from the August 5 sale. (j) September 30: Received the balance due from ABC Inc. for the sale dated August 1. (k) September 30: Paid the amount due to Vision Consulting Inc. for the August 1 purchase. (1) October 1: Paid the amount due to Courtland Corp. for the August 2 purchase. a) Calculate the net sales for Bentley Inc. during 2014: Net Sales: b) Calculate the cost of goods sold for Bentley Inc. during 2014: Cost of Goods Sold: Official Time: 17:51:43 SUBMIT AND MARK SAVE AND CLOSE 18 C 5:51 PM Sunny O 6/18/2022 20