Dave Company's inventory records for its retail division show the following at March 31: Click the icon to view the accounting records.) At March 31, 11 of these units are on hand. Data Table y under the perpetual system. All purchases journal entries.) Mar 1 Mar 15 Beginning Inventory 8 units @ $170 = $1,360 Purchase 5 units @ $171 = $855 Purchase 12 units @ $180 = $2,160 Credit Mar 26 5 3,015 Print Done Requirement 2. Journalize for Dave total March sales and cost of goods sold in two summary entries, under the perpetual system. The selling price was $550 per unit and all sales were on credit . Assume that Dave uses the FIFO inventory method. (Record debits first, then credits. Exclude explanations from any journal entries.) Let's start by recording the entry for March sales. Do not yet record the cost related to the sale. We will do this in the next journal entry Journal Entry Accounts Credit Date Debit