Bingerton Industries uses a perpetual inventory system. The company began the year with inventory of $88,000. Purchases of nventory on account during the year totaled $313,000. Inventory costing $338,000 was sold on account for $526,000. Required: Record transactions for the purchase and sale of inventory. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the purchase of inventory on account. Note: Enter debits before credits. Journal entry worksheet Record the sale of inventory on account. Note: Enter debits before credits. Journal entry worksheet