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Burr Industries has the following events transpire in June of 2020: Event Details Buy Inventory Buy 6,000 units of inventory for $6/unit on credit. Sell

Burr Industries has the following events transpire in June of 2020: Event Details Buy Inventory Buy 6,000 units of inventory for $6/unit on credit. Sell Inventory Sell 4,765 units of inventory for $44/unit on credit. Close Books Books are closed for the month of June.

Burr Industries has the following events transpire in June of 2020:

Event

Details

Buy Inventory

Buy 6,000 units of inventory for $6/unit on credit.

Sell Inventory

Sell 4,765 units of inventory for $44/unit on credit.

Close Books

Books are closed for the month of June.

Additional Info: Inventory is always purchased for $6/unit. Beginning inventory is 1,840 units.

Assuming Burr uses the Periodic Inventory System, please provide the necessary journal entries. If no entry is required, please put N/A

You may round your answers to the nearest dollar.

(A) Please provide the journal entry for the purchase of inventory:

(B) Please provide the journal entry for the sale of inventory:

(C) Please provide the journal entry which Burr would record when closing its books/the adjusting entry relating to inventory:

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