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Max Office Products markets the ink used in inkjet printers. Max started the year with 10,000 containers of ink (moving-weighted-average cost of $18 each; FIFO cost of $16 each). During the year, Max purchased 80,000 containers of ink at $22 on the first day of its fiscal year and sold 70,000 units for $46 each, with all transactions on account. Max paid a total of $500,000 in operating expenses throughout the year. Journalize Max's purchases, sales, and operating expense transactions under the following format. Max uses a perpetual inventory system to account for inkjet printer ink. Record the transaction to purchase inventory. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) DEBIT/CREDIT AMOUNTS Accounts Moving-Weighted-Average FIFO