The Sports Store experienced the following events for the 2014 accounting perioc 1. Acquired $40,000 cash from the issue of common stock. 2. Purchased $78,000 of inventory on account. 3. Received goods purchased in Event 2 FOB shipping point; freight cost of $900 paid in cash. 4. Sold inventory on account that cost $46,000 for $72,000 5. Freight cost on the goods sold in Event 4 was $560. The goods were shipped FOB destination. Cash was paid for the freight cost. 6. Customer in Event 4 returned $5,100 worth of goods that had a cost of $2,950 7. Collected $61,500 cash from accounts receivable 8. Paid $66,100 cash on accounts payable 9. Paid $2,600 for advertising expense 10.Paid $3,100 cash for insurance expense Required a. Which of these events affect period (selling and administrative) costs? Which result in product costs? If neither, select the transaction NA. Transaction Cost 2. 4 5 7 10