ABC Marketing sells one product, with information for May as follows: May 1 Inventory 125 units at $17.10 each 4 Sale 93 units at $18.10 each 11 Purchase 151 units at $16.90 each 13 Sale 124 units at $18.90 each 20 Purchase 170 units at $17.30 each 25 Purchase Return 70 units at $17.30 each 27 Sale 97 units at $19.80 each 29 Sale Return 10 units at $19.80 each ABC Marketing uses the FIFO cost formula. All purchases and sales are on account. Required: (1) Prepare all journal entries assuming ABC Marketing is using a perpetual inventory system. (2) Prepare all journal entries assuming ABC Marketing is using a periodic inventory system.