Presented here are selected transactions for Alpine Tours Inc. during September of the current year. Alpine Tours uses a perpetual inventory system. Alpine Tours estimates a return rate of 5% based on past experience.

Presented here are selected transactions for Alpine Tours Inc. during September of the current year. Alpine Tours uses a perpetual inventory system. Alpine Tours estimates a return rate of 5% based on past experience. Sept. 2 10 17 20 21 22 23 28 Purchased equipment on account for $58,800, terms n/SO, FOB destination. Freight charges of $1,050 were paid by the appropriate party on the September 2 purchase of equipment. Purchased supplies for $3,600 cash. Purchased inventory on account from Winterholt Company at a cost of $68,900, terms 1/15, n/30, FOB shipping point. Freight charges of $1,700 were paid by the appropriate party on the September 6 inventory purchase. Returned damaged goods costing $5,300 that were originally purchased from Winterholt Company on September 6. Received a credit on account. Sold goods costing $14,600 to Fischer Limited for $20,600 on account, terms n/30, FOB destination. Freight charges of $390 were paid by the appropriate party on the September 9 sale of inventory. Received the balance due from Fischer. Paid Winterholt Company the balance due. Purchased inventory for $6,600 cash. Sold inventory costing $18,000 to Kun-Tai Inc. for $24,600 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 $970 that cost $780. The merchandise was restored to inventory