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What is the cost of goods sold? Debit Credit 2-May Inventory 4,200 Accounts Payable 4,200 (purchased on account terms 2/10, n/30) 3-May Inventory 290 Cash

What is the cost of goods sold?

Debit Credit
2-May Inventory 4,200
Accounts Payable 4,200
(purchased on account terms 2/10, n/30)
3-May Inventory 290
Cash 290
(to record payment of freight cost)
5-May Accounts Payable 350
Inventory 350
(to record purchase return)
10-May Accounts Payable 3,850
Inventory 77
Cash 3,773
(to record payment made)
30-May Receivable 4,900
Sales Revenue 4,900
(to record sales of inventory)
30-May Cost of Goods Sold
Inventory

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