autumn company began the month of october with inventory of $15,000. the following inventory transactions occurred during the month: the company purchased inventory on account for $22,000 on october 12. terms of the purchase were 2/10, n/30. autumn uses the net method to record purchases. the inventory was shipped f.o.b. shipping point and freight charges of $500 were paid in cash. on october 31, autumn paid for the inventory purchased on october 12. during october inventory costing $18,000 was sold on account for $28,000. it was determined that inventory on hand at the end of october cost $19,060. required: