May 3 Allied made its first and only purchase of inventory for the period on May 3 for 2 . ooo units at a price of $10 cash per unit (for a total cost of $20,090 ) May 5 Alied sold 1,500 of the units in invencory for $14 per unit (10voice total: $21,000 ) to Macy Company under credit terms 2/10, n/6e. The goods cost Allied $15,000. May 7 Macy returns 125 units because they did not fit the custoner's needs (invoice anount: 51,750 ). Allied restores the units, which cost 51,250 , to its inventory. May 8 Macy discovers that 200 units are scuffed but are still of use and, therefore, heeps. che untts. Allied gives a price reduct conpensater for the daeage. May 15 Allied receives payment fron Macy for the abounc owed on the May 5 purchase: payalent 1 s. net of returns, Hllowances, and any cash discount. May 3 Allied made its first and only purchase of inventory for the period on May 3 for 2 . ooo units at a price of $10 cash per unit (for a total cost of $20,090 ) May 5 Alied sold 1,500 of the units in invencory for $14 per unit (10voice total: $21,000 ) to Macy Company under credit terms 2/10, n/6e. The goods cost Allied $15,000. May 7 Macy returns 125 units because they did not fit the custoner's needs (invoice anount: 51,750 ). Allied restores the units, which cost 51,250 , to its inventory. May 8 Macy discovers that 200 units are scuffed but are still of use and, therefore, heeps. che untts. Allied gives a price reduct conpensater for the daeage. May 15 Allied receives payment fron Macy for the abounc owed on the May 5 purchase: payalent 1 s. net of returns, Hllowances, and any cash discount