6 Accounting records for Big Steer Tire Ltd. yield the following data for the year ended December 31, 2022 (amounts in thousands): Inventory, December 31, 2021. Purchases of inventory (on account)... Sales of inventory-80% on account; 20% for cash (cost $900).. Sales returns - all on account (cost.45) Inventory at FIFO cost. December 31, 2022. Required $ 550 1,200 2,000 10 850 1.Joumalize Big Steer Tire's inventory transactions for the year under the perpetual system. Show all amounts in thousands. 2.Report ending inventory, sales, cost of goods sold, and gross profit on the appropriate financial statement (amounts in thousands)