Ken's Company accounting records yield the following data for the year ended December 31, 2023.

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Required

1. Journalize Ken's Company's inventory transactions for the year in a perpetual system. Use December 31 as the transaction date. necessary.

2. Report ending inventory, sales, cost of goods sold, and gross margin on the appropriate financial statement.

Inventory: January 1,2023 Purchases of inventory (on account) $36,000 Sales of inventory -75 percent on account; 25 percent 165,000 for dash (cost $139,000) 243,000 Inventory at FIFO cost December 31,2023 Done