During the month of June. Ace Incorporated purchased goods from two suppliers. The sequence of...
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During the month of June. Ace Incorporated purchased goods from two suppliers. The sequence of events was ast June 3 Purchased goods for $4,609 from Diamond Inc, with terms 3/15, n/60. 5 Returned goods costing $1,350 to Diamond Inc. for credit 6 Purchased goods from Club Corp. for $1,250 with terms 3/1s, n/68. 11 Paid the balance owed to Diamond Inc. 22 Paid Club Corp. in full Required: e that Ace uses a perpetual inventory system and that the company had no inventory on hand at the beginning of the mo st of inventory as of June 30. (Do not round intermediate calculations. Round your answer to 2 decimal places.) st of Inventory
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