Question et Accounting records for Dundas Tire Ltd. yield the following data for the year ended December 31, 2020 (amounts in thounandu) DE (Click the icon to view the accounting records.) Requirements 1. Journalize Dundas Tire's inventory transactions for the year under (a) perpetual system and (b) the perlodic nystem. Show all amount in thouando 2. What differences do you notice in the journal entries between the perpetual system and the periodic system? 3. Report ending inventory, sales, cost of goods sold, and gross profit on the appropriate financial statement (amounts in thousands), assuming the perpetool inventory system is used Requirement 1a. Journalize Dundas Tire's inventory transactions for the year under the perpetual system (Record debits first, then credits. Explanations are not required. Show all amounts in thousands.) The first transaction is the purchase of inventory Record the entry Journal Ery Date Accounts Debit Credit December 31 Question et Accounting records for Dundas Tire Ltd. yield the following data for the year ended December 31, 2020 (amounts in thounandu) DE (Click the icon to view the accounting records.) Requirements 1. Journalize Dundas Tire's inventory transactions for the year under (a) perpetual system and (b) the perlodic nystem. Show all amount in thouando 2. What differences do you notice in the journal entries between the perpetual system and the periodic system? 3. Report ending inventory, sales, cost of goods sold, and gross profit on the appropriate financial statement (amounts in thousands), assuming the perpetool inventory system is used Requirement 1a. Journalize Dundas Tire's inventory transactions for the year under the perpetual system (Record debits first, then credits. Explanations are not required. Show all amounts in thousands.) The first transaction is the purchase of inventory Record the entry Journal Ery Date Accounts Debit Credit December 31