CPI sells computer peripherals. At December 31, year 1, CPI' inventory amounted to $680,000. During the first week in January, year 2 , the company made only one purchase and one sale. These transactions were as follows. Jan. 2 Purchased 20 modems and 80 peinters trom Sharp. The total cost or these machines was 543.000 , teims 3/10, w60. Jan.e Sold 30 diflorent types of products on account to Pace Corporation. The total sales price was $28,000, tems 5/10, n90. The fotal cost of these 30 units to CPI was $14,280 (net of the purchase discount) CPI has a fobtime accountant and a computer.based accounting system. It records sales at the gross sales price and purchases at net cost and maintains subsidiary ledgers for accounts receivable, irventory, and accounts payabie. Required: b. Prepare joumal entries to record these transactions, assuming that CPI uses a perpetual inventory system. c. Compute the balance in the Inventory account at the close of business on January 6 . d. Prepare joumal entries to record the wo transactions, assuming that CPI uses a periodic inventory system. e. Compute the cost of goods sold for the first week of January assuming use of the periodic system. (Use your answer to part c as the ending inventory.)