Ranns Supply uses a perpetual inventory system. On January 1,its inventory account had a beginning balance of $6,500,000.Ranns engaged in the following transactions during theyear.1. Purchased mer Ranns Supply uses a perpetual inventory system. On January 1, its inventory account had a beginning balance of \( \$ 6,500,000 \). Ranns engaged in the following transactions during the year. 1. Purch 2 answers