WP Chapter 6 / x We NWP Adapt X A Player A Player RBC-Covid X Content X WP Lab 5 X WP NWP Asses X education. wiley.com/was/ui/v2/assessment-player/index.html?launchld=9dadd6d9-ff84-46c5-852e-7b2a2a6c735f#/question/4 aps Gmail Question 5 of 6 6.73 / 15 Crane Company commenced operations on July 1. Crane Company uses a periodic inventory system. During July, Crane Company was involved in the following transactions and events: July 2 Purchased $14,300 of merchandise from Suppliers Inc. on account, terms 2/10, n/30, FOB shipping point. Returned $1,200 of merchandise to Suppliers Inc. as it was damaged. Received a credit on account from Suppliers. Paid $590 of freight costs on July 2 shipment. CO Sold merchandise for $2,700 cash. Paid Suppliers Inc. the full amount owing. Sold merchandise for $6,400 on account, 1/10, n/30, FOB shipping point. Received full payment for the merchandise sold on July 15 Crane did a physical count and determined there was $9,700 of inventory on hand. - Your answer is partially correct. MacBook Air