Whispering Winds Corp. uses a periodic inventory system. The company had the following inventory transactions in April: April 3 Purchased merchandise from Ayayai Ltd. for $25,300, terms n/30, FOB shipping point. 6 The appropriate company paid freight costs of $690 on the merchandise purchased on April 3. 7 Purchased supplies on account for $5,090. 00 8 30 Returned damaged merchandise to Ayayai received a credit of $3,700. The merchandise was returned to inventory for future resale. Paid the amount due to Ayayai in full. 1. The cost of the merchandise sold on April 3 was $18,270. Ayayai expected a return rate of 15%. 2. The cost of the merchandise returned on April 8 was $2,300. 3. Ayayai uses a periodic inventory system.