sale of inventory want you to provide information about the sale of inventory. gers to record the following events. Complete parts a, b, and e. Or Stutt Sold inventory that had cost us $800 for $1,000 on account to 1 Freight to get the merchandise to our customer was paid by the customer Smith. Aseented 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. ne 13 Shipped merchandise that had cost us $940 to Jones. New Stuff billed the J20 customer $1,175 on the sale and paid $25 in freight to get the merchandise to the customer. 30 Received a check for the Smith June 7 sale. Record the transactions above using the periodic inventory system. Periodic Inventory Entries: INVENTORIES 7-17