1. Saud Bahwan Company maintains its books of accounts under Perpetual Inventory System. Following are the transactions occurred during 2020. Beginning inventory 200 cars @ OMR 8,000 per car Purchases made 5,000 cars @ OMR 8,000 per car Sales made 4,800 cars @ OMR 10,000 per car Purchase return 300 cars @ OMR 8,000 per car Required: (7 Marks) a. Prepare journal entries and compute gross profit assuming the company uses a periodic inventory system. b. Prepare journal entries and compute gross profit assuming the company uses a perpetual inventory system. Date Particulars Debit (OMR) Credit (OMR)