For grade 12 accoutning

Perpetual vs. Periodic

Record the following transactions for a perpetual and periodic inventory system.

Transaction	Perpetual Inventory System	Periodic Inventory System
Oct 4 Purchase of $2,300 merchandise on credit
Oct 4 Freight cost of $135 on purchase
Oct 8 Return $825 of purchases
Oct 10 Sales of merchandise on account for $2500
Oct 12 Return of $ 130 merchandise sold
Oct 15 Sales of Merchandise on account for $4200
Oct 20 Purchase of $2100 merchandise on account
Oct 25 Freight of $120 paid on purchase