The Fedora Company had a beginning inventory balance of $25,750 and engaged in the following transactions during the month of June.

June 2

June 4

June 6

June 9

June 10

June 22

June 24

June 25

Purchased $4,000 of merchandise inventory on account from Plumes

Incorporated with terms 2/10, n/30 and FOB destination. Freight costs associated with this purchase were $225.

Returned $400 of damaged merchandise to Plumes Incorporated

Sold $7,000 of merchandise to Fancy Caps on account, terms 1/15, n/30 and FOB shipping point. Freight costs were $125. The cost of the inventory sold was $3,500.

Paid the amount owed to Plumes Incorporated

The Fedora kompany granted Fancy Caps an allowance on the June 6

sale of $300 for minor damage found on several pieces of merchandise.

Received total payment owed from Fancy Caps

Paid sales salaries of $1,850

Paid the rent on the showroom of $1,200