Z Company has the following for the period: Ending Inventory $22,000, Beginning Inventory $15,000, Sales $145,000, Inventory Purchases $95,000

What is the cost of goods sold (COGS) for the period?

If the freight terms are FOB Shipping Point and the freight cost is $600, what account should the buyer debit?

If the freight terms are FOB Destination and the freight cost is $600, what account should the seller debit?

If the buyer returns damaged inventory to the seller, the buyer should credit

Credit terms of 2/10 Net 30 means

Credit terms are 1/10 Net 30 and the buyer pays in 9 days, the seller should debit