Chapter 6 6.1 At the end of last year, Helen's, Inc. had merchandise costing $115,000 in inventory. During January of the current year, the company purchased merchandise costing $35,000, and sold merchandise which it had purchased at a total cost of $55,000. Based upon the above information, place the best answer in the space provided. In questions 1 through 3, assume that Helen's uses a perpetual inventory system. The total debited to the Inventory account during January was: $5,000. 1 $0. b $35,000. d Some other answer. The balance in the Inventory account at January 31 was: $35,000. e $95,000. $205,000. Some other answer. The amount of costs transferred from the Inventory account to the Cost of Goods Sold account during January was: $0. 3 $5,000. a. Some other answer. $35,000. d In questions 4 through 6, assume that Jerome's, Inc. uses a periodic inventory system and takes a physical inventory only at year-end. The total debited to the Inventory account during January was: $55,000. $0. a. b $35,000. d Some other answer. The balance in the Inventory account at January 31 was: $0. $115,000. a. Some other answer. by $105,000. The amount of costs transferred from the Inventory account to the Cost of Goods Sold account during January was: $0. $35,000. d $55,000. Some other answer. by