(A) Perpetual vs. Periodic System Fesmire Company had the following transactions during the current year Beginning Inventory 100 units @ $6 $600 Purchases 900 units @ 56 5.400 Sale 600 units 512 7.200 Ending Inventory 400 units $6 2.400 Perpetual Inventory System Periodic Inventory System (1) Beginning inventory, 100 units @ $6 (2) Purchase 900 units @6 (3) Sale of 600 units 512 (4) End-of-period entries for inventory accounts, 400 units @ $6