Excel complete exercises E6-10 E6-10, E6-17, and E6-18

BE618 Refer to the BE611 Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $40,000.

, but now assume that Shankar uses a periodic system to record inventory transactions. Record the purchase of inventory on February 2, including the freight charges.

E610 Sundance Systems has the following transactions during July.

July ?5	Purchases 40 LCD televisions on account from Red River Supplies for $2,500 each, terms 3/10, n/30.
July ?8	Returns to Red River two televisions that had defective sound.
July 13	Pays the full amount due to Red River.
July 28	Sells remaining 38 televisions from July 5 for $3,000 each on account.

Required:

Record the transactions of Sundance Systems, assuming the company uses a perpetual inventory system.

E618 Refer to the transactions in E610.

Required:

1.	Record the transactions of Sundance Systems, assuming the company uses a periodic inventory system.
2.	Record the period-end adjustment to cost of goods sold on July 31, assuming the company has no beginning inventory.