Bingerton Industries uses a perpetual inventory system. The company began the year with inventory of $82,000. Purchases of inventory on account during the year totaled $307,000. Inventory costing $332,000 was sold on account for $514,000. 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.) View transaction list 1 Record the purchase of inventory on account. 2 Record the sale of inventory on account. 3 Record the cost of inventory sold. Credit Note : - Journal entry has been entered Record entry Clear entry View general Journal