Perlodic Inventory system Blue Spruce Ltd. had beginning inventory of S3 units that cost $105 each. During September, the company purchased 202 units on account at $105 each, returned 9 units for credit, and sold 160 units at $204 each, Blue Spruce Ltd. values its inventory on the basis of first in first out (FIFO) Instructions a) Journalize the September transactions, assuming that Blue Spruce Ltd, uses a periodic inventory system. (6 marks) b) Assume that Blue Spruce Ltd. uses a periodic system and prepares financial statements at the end of each month. An inventory count determines Rhat there are 86 units of inventory remaining at September 30. Prepare the necessary adjusting entry at September 30