48 / 89 100% + 6-3B -Inventory Purchases, Sales, Returns and More! The following transactions occurred for Perry Inc.: March 1 March 3 March 5 March 9 March 16 March 18 March 22 Sold inventory on account for $1,500. The inventory cost $800. Terms 2/10, n/30. Purchased inventory on account: $2,800. Terms: 2/10, n/30. Inventory was returned from the March 1 sale. The inventory was badly damaged and was thrown out. A credit of $200 was given. The inventory had an original cost of $110. Received payment for the inventory sold on March 1. Purchased inventory on account: $500. Terms: 1/5, n/15. Paid freight on March 16 inventory purchase: $50. Sold inventory for $3,000 on account. The cost of inventory was $1,100. Terms 2/10, n/30. Paid for inventory purchase from March 16. Customer from the March 22 sale paid the amount owing. March 24 March 31 Perry Inc. uses a perpetual inventory system. Required: Prepare journal entries based on the transactions above. 10C Mostly cloudy