Chapter 05: Accounting for Merchandising Operations E 5.19 (LO 7) Below is a series of cost of goods sold sections for companies B, F. L, and R. B F L R Beginning inventory $ 180 $ 70 $1,000 (j) Purchases 1,620 1,060 (g) 43,590 Purchase returns and allowances 40 (d) 290 (k) Net purchases (a) 1,030 6,210 41,090 Freight-in 110 (e) (h) 2,240 Cost of goods purchased (b) 1,280 7,940 Cost of goods available for sale 1,870 1,350 (i) 19,530 Ending inventory 250 (f) ,450 6,230 Cost of goods sold (c) 1,230 7,490 43,300 Instruction Fill in the lettered blanks to complete the cost of goods sold sections. E 5.20 (LO 7) This information relates to Nandi Co. 1. On April 5, purchased merchandise on account from Dion Company for $25,000, terms 2/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $900 on merchandise purchased from Dion Company. 3. On April 7, purchased equipment on account for $30,000. 4. On April 8, returned some of April 5 merchandise, which cost $2,800, to Dion Company. 5. On April 15, paid the amount due to Dion Company in full. Instructions a. Prepare the journal entries to record these transactions on the books of Nandi Co. using a periodic inventory system. b. Assume that Nandi Co. paid the balance due to Dion Company on May 4 instead of April 15. Prepare the journal entry to record this payment. Question 03: This information relates to Nandi Co. 1. On April 5, purchased merchandise on account from Dion Company for $25,000, terms 2/10. net/30, FOB Destination. 2. On April 6, paid freight costs of $900 on merchandise purchased from Dion Company. 3. On April 7, purchased equipment on account for $30,000. 4. On April 8, returned some of April 5 merchandise, which cost $2,800, to Dion Company. 5. On April 15, paid the amount due to Dion Company in full. Instructions a. Prepare the journal entries to record these transactions on the books of Nandi Co. using a perpetual inventory system. b. Assume that Nandi Co. paid the balance due to Dion Company on May 4 instead of April 15. Prepare the journal entry to record this payment