on june 10 concord corporation purchased 8050 of merchandise on account from sarasota company fob shipping point terms 1/10, n/30 concord corporation pays the freight cost of 510 on june 11 damaged goods totaling 450 are returned to sarsota for creidt on june 12 the fair value of ghese goods uis 80 on june 19 concord corporation pays sarasota company in full less the purchase discount. both companies use a perpetual inventory system