E6-3 Identifying Shrinkage and Other Missing Inventory Information (LO 6-2] Calculate the missing information for each of the following independent cases: Cases Beginning Inventory Purchases Shrinkage Ending Cost of Inventory Goods Sold (perpetual system) $ 300 Ending Inventory (as counted) $ 420 $ 100 $ 700 B 200 800 150 150 150 500 200 450 10 D 260 650 210 200 E6-8 Reporting Purchases, Purchase Discounts, and Purchase Returns Using a Perpetual Inventory System (LO 6-3] 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. Cost of Inventory