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INVENTORY TRANSACTIONS. SHOW ON A GENERAL JOURNAL THE WEIGHTED AVERAGE METHOD AND PERPETUAL METHOD. Glen Glenny purchased $ 2 0 , 0 0 0 inventory

INVENTORY TRANSACTIONS. SHOW ON A GENERAL JOURNAL THE WEIGHTED AVERAGE METHOD AND PERPETUAL METHOD. Glen Glenny purchased $20,000 inventory on February 1,2020, sold $15,000 at a markup of 130% on March 1. All transactions were on account. The year-end inventory showed a balance of $4,000, and beginning inventory was $17,000. Show all entries during the year, as well as the entry to balance the inventory account using the weighted average and Perpetual methods.

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