Part IIClothing Companys financial year ends on $31$ December. It adjusts and closes its accountsannually. On $15$ December $2022,$ Clothing Company sold $2,000$ pieces of same style T$-$shirt toCossini Company for $$200,000$ on account with a gross profit of $$80,000.$ Cossini Companylater found that $200$ pieces of the T$-$shirt from Clothing Company was wrong size. On $31$December $2022,$ Cossini returned these wrong sized T$-$shirts to Clothing Company with noreplacement.Required:$($a$)$ Journalise the above transactions for Clothing Company using perpetual inventory system.$(8$ marks$)($b$)$ List any TWO factors that suggest a company would prefer the perpetual inventory systemover the periodic inventory system.