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ACCT 1036- CRN 15541-202001 (fall 2020) Killian Byll & | 12/06/20 9:46 PM Quiz: Quiz 2 Time Remaining: 01:34:38 Submit Quiz This Question: 1 pt 1 of 12 (0 complete) This Quiz: 12 pts possible The following data pertain to Zari Scarf and Hat for the year ended December 31, 2020: (Click the icon to view the data.) Required . Prepare entries for the following transactions using a perpetual inventory system: i. Purchase of inventory during 2020 ii. Sales during 2020 iii. Cost of goods sold during 2020 b. Compute the balance in the Inventory account on December 31, 2020. Requirement a. Prepare entries for the following transactions using a perpetual i Data - X i. Purchase of inventory during 2020 Assume all purchases were made on credit. (Record debits first, then credits Journal Entry Beginning inventory $ 190,300 Date Accounts Debit Purchases of inventory on credit during the year 450,000 Cost of goods sold during the year 65% of sales Sales (75% on credit) during the year 800,000 Print Done ii. Sales during 2020 Journal Entry Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. ? 4ACCT 1036- CRN 15541-202001 (fall 2020) Killian Byll & | 12/06/20 9:47 PM Quiz: Quiz 2 Time Remaining: 01:34:01 Submit Quiz This Question: 1 pt 1 of 12 (0 complete) This Quiz: 12 pts possible The following data pertain to Zari Scarf and Hat for the year ended December 31, 2020: (Click the icon to view the data.) Required . Prepare entries for the following transactions using a perpetual inventory system: i. Purchase of inventory during 2020 ii. Sales during 2020 iii. Cost of goods sold during 2020 b. Compute the balance in the Inventory account on December 31, 2020. ii. Sales during 2020 Journal Entry Date Accounts Debit Credit iii. Cost of goods sold during 2020 Journal Entry Date Accounts Debit Credit Requirement 2. Compute the balance in the Inventory account on December 31, 2020. The balance in the inventory account on December 31, 2020 is Choose from any list or enter any number in the input fields and then continue to the next