Presented here are selected transactions for Alpine Tours Inc. during September of the current year. Alpine Tours uses a periodic inventory system. Alpine Tours estimates a return rate of 5% based on past experience. Sept. 2 Purchased equipment on account for $69,500, terms n/30, FOB destination. 3 4 6 7 8 9 10 17 20 21 22 23 28 Freight charges of $880 were paid by the appropriate party on the September 2 purchase of equipment. Purchased supplies for $3,800 cash. Purchased inventory on account from Winterholt Corp. at a cost of $62,500, terms 1/15, n/30, FOB shipping point. Freight charges of $1,600 were paid by the appropriate party on the September 6 inventory purchase. Returned damaged goods costing $5,500 that were originally purchased from Winterholt on September 6. Received a credit on account. Sold goods costing $16,100 to Fischer Limited for $19,600 on account, terms n/30, FOB destination. Freight charges of $370 were paid by the appropriate party on the September 9 sale of inventory Received the balance due from Fischer. Paid Winterholt the balance due. Purchased inventory for $5.400 cash. Sold inventory costing $18.700 to Kun-Tai Inc. for $27.300 on account, terms n/30, FOB shipping point Freight charges of $600 were paid by the appropriate party on the September 22 sale of inventory. Kun-Tai returned goods sold for $10,000 that cost $6,900. The merchandise was restored to inventory.