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Our stuff managers also want you to provide information about the sale of inventory. They are asking you to record the following events. Complete parts

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Our stuff managers also want you to provide information about the sale of inventory. They are asking you to record the following events. Complete parts a, b, and c. June 7 Sold inventory that had cost us $800 for $1,000 on account to Smith. Freight to get the merchandise to our customer was paid by the customer. June 13 Accepted a return of merchandise from the June 7 sale to Smith that was the wrong size for the customer. We had sold the merchandise for $300; our cost was $240. June 20 Shipped merchandise that had cost us $940 to Jones. New Stuff billed the customer $1, 175 on the sale and paid $25 in freight to get the merchandise to the customer. June 30 Received a check for the Smith June 7 sale. Record the transactions above using the periodic inventory system

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