HW: Ch 6 A Saved Help Save & Exit Subm Check my work 1 During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: 1.25 points June 3 Purchased goods for $3,800 from Diamond Incorporated with terms 2/10, n/30. June 5 Returned goods costing $850 to Diamond Incorporated for credit on account. June 6 Purchased goods from Club Corporation for $800 with terms 3/10, n/30. June 11 Paid the balance owed to Diamond Incorporated. June 22 Paid Club Corporation in full. Skipped 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. (Do not round intermediate calculations. Round your answer to 2 decimal places.) eBook Cost of Inventory of Hint Print References