Requirements

1.	Journalize the purchase transactions. Explanations are not required.
2.	In the final analysis, how much did the inventory cost Manchester?

Requirement 1. Journalize the purchase transactions. Explanations are not required. (Assume the company uses a perpetual inventory system. Round the answers to the nearest whole dollar. Record debits first, then credits. Exclude explanations from journal entries.)

Oct.

2:

Manchester

buys

$22,700

worth of inventory on account with credit terms of

2/15, n/45,

FOB shipping point.

Date			Accounts	Debit	Credit
Oct. 2

Oct.

4:

Manchester

pays a

$75

freight charge.

Date			Accounts	Debit	Credit
Oct. 4

Oct.

8:

Manchester

returns

$5,200

of the merchandise due to damage during shipment.

Date			Accounts	Debit	Credit
Oct. 8

Oct.

14:

Manchester

paid the amount due, less return and discount.

Date			Accounts	Debit	Credit
Oct. 14

Requirement 2. In the final analysis, how much did the inventory cost

Manchester?

The inventory cost for Manchester is $

.