Demski Company reported beginning inventory of 314 units at a unit cost of $19. It engaged in the following purchase and sale transactions during 2017: Jan.14 Sold 67 units at unit sales price of $34 on open account. April 9 Purchased 52 additional units at unit cost of $19 on open account. Sept. 2 Sold 142 units at sales price of $44 on open account. At the end of 2017, a physical count showed that Demski Company had 157 units of inventory still on hand. Required: (a). Record each transaction, assuming that Demski Company uses a periodic inventory system (including any necessary entries at December 31, the end of the accounting period). Demski Company uses the FIFO inventory costing method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet General Journal Debit No 1 Date January 14 2.278 Trade receivables Sales Record sales on account. 2 Record purchase of goods on account. ih 3 Record sales on account. 4 Record cost of sales on goods sold on account. 5 Record cost of sales on goods for the year. (b). Record each transaction, assuming that Demski Company uses a perpetual inventory system (including any necessary entries at December 31, the end of the accounting period). Demski Company uses the FIFO inventory costing method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet General Journal No 1 Credit Date January 14 Debit 2.278 Trade receivables Sales 2 January 14 Cost of sales Inventory View transaction list View journal entry worksheet Debit 2.27 O Record sales on account. Record cost of sales on goods sold on account. 3 Record purchase of goods on account. 4 Record sales on account. 5 Record cost of sales on goods sold on account. 6 Record cost of sales on goods for the year