Office Products markets the ink used in inkjet printers. My started the year with 10,000 containers of ink (moving-weighted-average cost of $19 each; FIFO cost of $17 each). During the year, My purchased 98,000 containers of ink at $38 on the first day of its fiscal year and sold 70,000 units for $64 each, with all transactions on account. My paid a total of $1,400,000 in operating expenses throughout the year. Journalize My's purchases, sales, and operating expense transactions under the following format. My uses a perpetual inventory system to account for inkjet printer ink