On September 1, the beginning of its fiscal year, Burke Wholesale Company Ltd. had an inventory of 90 calculators at a cost of $22 each. The company uses a perpetual inventory system. During September, the following transactions occurred:

Sept.	2		Purchased 726 calculators for $22 each from Digital Corp. on account, terms n/30.
	10		Returned 11 calculators to Digital for $242 credit because they did not meet specifications.
	11		Sold 265 calculator s for $30 each to Burke Book Store, terms n/30.
	14		Granted credit of $300 to Burke Book Store for the return of 10 calculators that were not ordered. The calculator were restored to inventory.
	21		Sold 310 calculators for $30 each to Student Card Shop, terms 1/10, n/30.
	29		Paid Digital the amount owing.
	30		Received payment in full from the Student Card Shop.

Create T accounts for the Inventory and Cost of Goods Sold accounts. Enter the opening balances and post the September transactions. (Post entries in the order presented in the problem) Inventory Sept. 1 Bal. 1980 Sept.2 15972 Sept.2 1980 Sept. 10 -242 Sept. 10 17710 Sept. 11 Cost of Goods Sold Part 3 Determine the ending balances of inventory and cost of goods sold in both dollars and quantities. Number of calculators Cost of calculators Ending Inventory $ Cost of Goods Sold $