PB6-5 (Supplement A) Recording Inventory Transactions Using Periodic and Perpetual Inventory Systems [LO 6-S1] [The following information applies to the questions displayed below.] Sigfusson Supplies reported beginning inventory of 80 units, for a total cost of $2,000. The company had the following transactions during the month: Jan. 6 Sold 20 shovels on account at a selling price of $35 per unit. 9 Bought 10 shovels on account at a selling price of $25 per unit. 11 Sold 10 shovels on account at a cost of $40 per unit. 19 Sold 20 shovels on account at a selling price of $45 per unit. 27 Bought 10 shovels on account at a cost of $25 per unit. 31 Counted inventory and determined that 30 units were on hand. 1. Prepare the journal entries that would be recorded using periodic inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 2. Prepare the journal entries that would be recorded using a perpetual inventory system, including any book-to-physical adjustment that might be needed. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)