Home Hardware reported beginning inventory of 20 shovels, for a total cost of $100. The company had the following transactions during the month: January 2 Sold 4 shovels on account at a selling price of $10 per unit. January 16 Sold 10 shovels on account at a selling price of $10 per unit. January 18 Bought 5 shovels on account at a cost of $5 per unit. January 19 Sold 10 shovels on account at a selling price of $10 per unit. January 24 Bought 10 shovels on account at a cost of $5 per unit. January 31 Counted inventory and determined that 10 units were on hand. Prepare the journal entries that would be recorded using a perpetual inventory system, including any "book-to-physical" adjustment that might be needed. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)