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NorthWave Products has provided you with the following transactions for the month of February 2019. Feb Purchased $209,000 of inventory on account, terms 2/10,
NorthWave Products has provided you with the following transactions for the month of February 2019. Feb Purchased $209,000 of inventory on account, terms 2/10, net 30 8 A portion of the inventory from the Feb above purchase was defective. 10 NorthWave returned $460 worth of inventory to the supplier. Sold $98,300, of products to Feb SouthShore on account, terms 2/10, 12 net 30; cost of goods sold was Feb 14 $39,320 for this transaction. Customer from Feb 12 purchase paid their amount owing and claimed their discount. A customer returned $1,100 of Feb goods purchased on account. The 21 Feb 22 Feb 23 cost of goods sold for the returned inventory is $660. Purchased goods from EastCoast Products on account for $19,200 with terms of 3/10, net 30. Made a cash sale of $9,400 The cost of goods sold for this transaction was $5,640. Took advantage of discount offered Feb and paid up amount owing to 25 EastCoast Products from Feb 22 purchase.
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