Prepare journal entries to record the December 20 purchase and the December 29 sale using (1) weighted average periodic and (2) weighted average perpetual. Assume both the sale and purchase were for cash. (Round the weighted average cost per unit to 2 decimal places, eg. 52.75 and final answers to O decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) (1) Weighted Average Periodic Date Account Titles Dec. 20 Dec. 29 Debit Credit Date Account Titles Debit Credit D Dec. 20 Dec. 29 Dec. 29 (To record cash sales.) (To record cost of goods sold.) Martinez Corporation opened a new store on January 1, 2024. During 2024, the first year of operations, the following purchases and sales of inventory were made: Purchases Sales Date Units Cost per unit Date Units Price per unit Jan. 5 11 $1,000 July 4 14 $2.100 June 11 11 1.160 Dec. 29 34 2,100 Oct. 18 14 1.260 Dec. 20 19 1,420 (a) wer is correct 321PM Assume Martinez uses weighted average periodic. Calculate the cost of ending inventory, cost of goods sold, and gross profit. (Round the weighted average cost per unit to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 5,275.) Ending inventory 8.703 Cost of goods sold $ 59,677 Gross profit $ 41.123 eTextbook and Media List of Accounts E Attempts: 1 of 3 used C Prepare journal entries to record the December 20 purchase and the December 29 sale using (1) weighted average periodic and (2) weighted average perpetual. Assume both the sale and purchase were for cash. (Round the weighted average cost per unit to 2 decimal places, eg. 52.75 and final answers to O decimal places, eg. 5,275. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually List of debit entries before credit entries) (1) Weighted Average Periodic Date Account Titles Debit Credit Dec. 20 Dec. 29 Date Account Titles: Debit Credit Dec. 20 Dec 29, Dec 29 (To record cash sales.) (To record cost of goods sold.)) eTextbook and Media List of Accounts O LO T . ASUS