Note: Can someone please help me with fixing the incorrect answers (marked in red)? It seems that using "Inventory" is incorrect.

At the beginning of July, CD City has a balance in inventory of $3,000. The following transactions occur during the month of July. July 3 Purchase CDs on account from Wholesale Music for $1,900, terms 1/10, n/30. July 4 Pay cash for freight charges related to the July 3 purchase from Wholesale Music, \$120. July 9 Return incorrectly ordered CDs to Wholesale Music and receipt of credit, $400. July 11 Pay Wholesale Music in full. July 12 sell cDs to customers on account, $5,000, that had a cost of $2,600. July 15 Receive full payment from customers related to the sale on July 12 . July 18 Purchase CDs on account from Music Supply for $2,700, terms 1/10,n/30. July 22 Sell CDs to customers for cash, $3,800, that had a cost of $2,100. July 28 Return CDs to Music Supply and receive credit of $220. July 30 Pay Music Supply in full. Assuming that CD City uses a periodic inventory system, record the transactions. (If no entry is required for a particula tra Record the month-end adjusting entry to inventory, assuming that a final count reveals ending inventory with a cost of $2,385. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Prepare the top section of the multiple-step income statement through gross profit for the month of July. \begin{tabular}{|c|l|l|} \hline \multicolumn{2}{|c|}{ CD CITY } \\ \hline \multicolumn{2}{|c|}{ Multiple-Step Income Statement (partial) } \\ \hline For the Month of July & \\ \hline Cost of goods sold: & & \\ \hline Beginning inventory & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Cost of goods available for sale & & \\ \hline & & \\ \hline Cost of goods sold & & \\ \hline & & \\ \hline \end{tabular}