5-Jan-09

bought on credit 10,000 barrels of crude oil for $600,000

15-Jan-09

bought for cash 8,200 barrels of crude oil for $451,000

30-Mar-09

bought on credit 11,200 barrels of crude oil for $694,400

2-May-09

bought on credit 9,400 barrels of crude oil for $479,400

13-Jul-09

sold for cash 30,000 barrels of crude oil for $2,700,000

Create the journal entries and maintain the Inventory T-Acct based on the following transactions using the perpetual weighted average inventory method