Accounting records for Just Desserts, Inc. show the following data for the year ended December 31, 2018 (amounts in thousands) Click the icon to view the data.) Read the requirements Requirement 1. Journalize Just Desserts inventory transactions for the year under the periodic system Show all amounts in thousands Begin by journalizing the inventory purchase (Record debits first, then credits. Exclude explanations from journal entries) Journal Entry Requirements Debit Credit Accounts 1. Journalize Just Desserts inventory transactions for the year under the periodic system Show all amounts in thousands 2. Report ending inventory, sales, cost of goods sold, and gross profit on appropriate financial statement amounts in thousands) Show the computation of cost of goods sold Print x Done 0 Data Table $ 520 1,160 Inventory, Dec 31, 2017 Purchases of inventory (on account Sales of Inventory 80% on account 20% for cash Inventory at the lower of FIFO cost of market, Dec 31, 2018 3,700 670 Check