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Mathematics, 25.10.2019 17:43 colyernicholas44

During the month of june, ace incorporated purchased goods from two suppliers. the sequence of events was as follows: june 3 purchased goods for $4,100 from diamond inc. with terms 2/10, n/30. 5 returned goods costing $1,100 to diamond inc. for credit on account. 6 purchased goods from club corp. for $1,000 with terms 2/10, n/30. 11 paid the balance owed to diamond inc. 22 paid club corp. in full. required: assume that ace uses a perpetual inventory system and that the company had no inventory on hand at the beginning of the month. calculate the cost of inventory as of june 30.

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