Crane Company had these transactions during the current period. June 12 Issued 79,500 shares of $1 par value common stock for cash of $298,125.
July 11 Issued 3,650 shares of $105 par value preferred stock for cash at $113 per share.
Nov. 28 Purchased 3,200 shares of treasury stock for $8,800.
Prepare the journal entries for the Crane Company transactions shown above.

An allergy products superstore buys 6000 of their most popular model of air filters each year. the price of the air filters is $18. the cost of ordering and receiving shipments is $12 per order. accounting estimates annual carrying costs are 20% of the price. the supplier lead time is 2 days. the store operates 240 days per year. each order is received from the supplier in a single delivery. there are no quantity discounts. what is the store’s minimum total annual cost of placing orders & carrying inventory?