Sheffield Sports Equipment sells a variety of sports items. The following data relates to Sheffield's inventory of golf club sets. On March 1, 2024, Sheffield had 22 sets of clubs in inventory at a cost of $390 each. Management expects approximately 10% of sales to be returned. During March, the following transactions occurred: Mar. 2 Sold 7 sets of clubs on account to Flex Golf Club for $553 each, terms, n/30. Flex Golf Club returned 2 sets of clubs. Fairway returned the clubs to inventory. 11 Flex Golf Club paid the account in full. 15 Purchased 8 sets of clubs from Taylor Sports Canada at $390, terms n/30. 17 Freight of $622 on the purchase from Taylor was FOB destination and was paid by the appropriate party. 18 Sold 6 sets of clubs at $532 each for cash. 22 Purchased 11 sets of clubs from Lopez Golf for $419 each, terms 3/10 n/30. 24 Returned 1 set of clubs to Lopez Golf because they were defective. 31 Paid the Lopez Golf account. 4

Sheffield Sports Equipment sells a variety of sports items. The following data relates to Sheffield's inventory of golf club sets. On March 1, 2024, Sheffield had 22 sets of clubs in inventory at a cost of $390 each. Management expects approximately 10% of sales to be returned. During March, the following transactions occurred: Mar, 2 Sold 7 sets of clubs on account to Flex Golf Club for $553 each, terms, n/30. 4 Flex Golf Club returned 2 sets of clubs. Fairway returned the clubs to inventory. 11 Flex Golf Club paid the account in full. 15 Purchased 8 sets of clubs from Taylor Sports Canada at $390, terms n/30. 17 Freight of $622 on the purchase from Taylor was FOB destination and was paid by the appropriate party. 18 Sold 6 sets of clubs at $532 each for cash. 22 Purchased 11 sets of clubs from Lopez Golf for $419 each, terms 3/10 n/30. 24 Returned 1 set of clubs to Lopez Golf because they were defective. 31 Paid the Lopez Golf account. Sheffield Sports Equipment sells a variety of sports items. The following data relates to Sheffield's inventory of golf club sets. On March 1, 2024, Sheffield had 22 sets of clubs in inventory at a cost of $390 each. Management expects approximately 10% of sales to be returned. During March, the following transactions occurred: Mar, 2 Sold 7 sets of clubs on account to Flex Golf Club for $553 each, terms, n/30. 4 Flex Golf Club returned 2 sets of clubs. Fairway returned the clubs to inventory. 11 Flex Golf Club paid the account in full. 15 Purchased 8 sets of clubs from Taylor Sports Canada at $390, terms n/30. 17 Freight of $622 on the purchase from Taylor was FOB destination and was paid by the appropriate party. 18 Sold 6 sets of clubs at $532 each for cash. 22 Purchased 11 sets of clubs from Lopez Golf for $419 each, terms 3/10 n/30. 24 Returned 1 set of clubs to Lopez Golf because they were defective. 31 Paid the Lopez Golf account