FyLe Company corong recorded the following data for the year ended December 31, 2020. Click the icon to view the accounting records) Reovered 1. JournalF ile Company's inventory transactions for the year in a perpetual system use December 31 as the transaction date. No explanations are necessary 2. Reportending very sales, cost of goods and gross margin on the appropriate trancial statement Requirement 1. Jumale Fute Company's inventory transactions for the year in the perpetua ystem The transaction is the p hone o inventory Record the Record debits , the credits Exclude explanations from journal entries Debe Creat Choose from any store any number in the mout and then click Check er Clear A Check Answer O Type here to search 9 S ARENG 2020-04-17 SUS Q ed December 31, 2020. 0 Records etual system. Use December 31 e appropriate financial stateme . $ e year in the perpetual system. debits first, then credits. Excl 42,000 151,000 Inventory: January 1, 2020 Purchases of inventory (on account) Sales of inventory -- 70 percent on account: 30 percent for cash (cost $137,000) Inventory at FIFO cost December 31, 2020 231,000 ebit Credit Print Done click Check Answer. Clear All Check Answer 2020-04-13 SUS