New sales company has just gone into business and is starting to receive inventory items it has ordered. The problem facing New Sales is that no one knows whether the system to use should be the periodic or perpetual system. Complete parts a, b, and c. Record each of the following transactions using the periodic method. May 6: Purchased $5,000 of goods on account. The freight charges on the goods were $50. Goods costing $35 were damaged and were returned to the seller; the seller reduced the amount owed by $35. May 9 New Sales found that items costing $95 were not ordered and could not be used. New Sales returned the items, and the supplier reduced the amount owed. May 26 Paid the supplier the amount owed