Practice Brief Exercise 8-01 Kingbird, Inc. uses a perpetual inventory system. Its beginning inventory consists of 170 units that cost $190 each. During August, the company purchased 240 units at $190 each, returned 8 units for credit, and sold 320 units at $400 each. Journalize the August transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record purchase of inventory) (To record purchase return of inventory) (To record sales) (To record cost of goods sold)