(APPENDICES 6A AND B) RECORDING PURCHASES AND SALES

Printer Supply Company sells computer printers and printer supplies. One of its products is a toner cartridge for laser printers. At the beginning of 2009, there were 200 cartridges on hand at a cost of $60 each. During 2009, Printer Supply Company purchased 1,400 cartridges at $60 each, sold 800 cartridges at $95 each, and sold an additional 750 cartridges at $102 each after a midyear selling price increase. Printer returned 10 defective cartridges to the supplier. In addition, customers returned 15 cartridges that were purchased at $102 to printer for various reasons. Assume that Printer Supply Company uses a periodic inventory system.