Q 02: On September 1, Nixa Office Supply had an inventory of 30 calculators at a cost of $18 each. The company uses a Perpetual Inventory System. During September, the following transactions occurred. Sept. 6: Purchased 90 calculators at $22 each from York, terms net/30. Sept. 9: Paid freight of $90 on calculators purchased from York Co. Sept. 10: Returned 3 calculators to York Co. for $69 credit (including freight) because they did not meet specific cations. Sept. 12: Sold 26 calculators costing $23 (including freight) for $31 each to Sura Book Store, terms n/30. Sept. 14: Granted credit of $31 to Sura Book Store for the return of one calculator that was not ordered. Sept. 20: Sold 30 calculators costing $23 for $32 each to Davis Card Shop, terms n/30.
Q 02: On September 1, Nixa Office Supply had an inventory of 30 calculators at a cost of
$18 each. The company uses a Perpetual Inventory System. During September, the following
transactions occurred.
Sept. 6: Purchased 90 calculators at $22 each from York, terms net/30.
Sept. 9: Paid freight of $90 on calculators purchased from York Co.
Sept. 10: Returned 3 calculators to York Co. for $69 credit (including freight) because they did not meet specific cations.
Sept. 12: Sold 26 calculators costing $23 (including freight) for $31 each to Sura Book Store, terms n/30.
Sept. 14: Granted credit of $31 to Sura Book Store for the return of one calculator that was not ordered.
Sept. 20: Sold 30 calculators costing $23 for $32 each to Davis Card Shop, terms n/30.
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