Required a. Prepare the purchase entry assuming a perpetual inventory system. b. Determine the value of ending inventory assuming the following quantities are in inventory at year-end: grade A, 200 bags; grade B, 160 bags; and grade C, 80 bags. c. Prepare the entry for sale of 40 bags of grade A pecans at a market price of $6.75 cash per bag. Note: Carry all decimals in calculations; round the final answer to the nearest dollar. Required a. Prepare the purchase entry assuming a perpetual inventory system. b. Determine the value of ending inventory assuming the following quantities are in inventory at year-end: grade A, 200 bags; grade B, 160 bags; and grade C, 80 bags. c. Prepare the entry for sale of 40 bags of grade A pecans at a market price of $6.75 cash per bag. Note: Carry all decimals in calculations; round the final answer to the nearest dollar