EA4. LO 6.2 The following is selected information from Mars Corp. Compute net purchases, and cost of goods sold for the month of March. Inventory, February 28, 2018 Inventory, March 31, 2018 Purchase discounts Purchase returns and allowances $450.000 330,500 12.450 23,870 275.900 34 660 120,400 Sales Sales discounts Gross purchases EA5. LO 6.2 On April 5, a customer returns 20 bicycles with a sales price of $250 per bike to Barrio Bikes. Each bike cost Barrio Bikes $100. The customer had yet to pay on their account. The bikes are in sellable condition. Prepare the journal entry or entries to recognize this return if the company uses A. the perpetual inventory system B. the periodic inventory system