Home Hardware reported beginning inventory of 20 shovels, for a total cost of $100. The company had the following transactions during the month:

Jan. 2	Sold 4 shovels on account at a selling price of $10 per unit.
16	Sold 10 shovels on account at a selling price of $10 per unit.
18	Bought 5 shovels on account at a cost of $5 per unit.
19	Sold 10 shovels on account at a selling price of $10 per unit.
24	Bought 10 shovels on account at a cost of $5 per unit.
31	Counted inventory and determined that 10 units were on hand.

1. Prepare the journal entries that would be recorded using a periodic inventory system.

2. Prepare the journal entries that would be recorded using a perpetual inventory system, including any book-to-physical adjustment that might be needed.