Ches Beginning inventory Inventory purchases (on account) Freight changes on purchases (paid in cash) Inventory returned to suppliers (for credit) Ending inventory Sales (on account) Cost of inventory sold $ 36, eee 166,000 21, eee 23,000 41,900 261,000 159,000 Required: Applying both a perpetual and a periodic inventory system prepare the journal entries that summarize the transactions that created these balances. Include all end-of-period adjusting entries indicated. Complete this question by entering your answers in the tabs below. Perpetual System Periodic System