Required information (The following information applies to the questions displayed below.) Pam's Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 230 items at $91 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. Date Mar. 5 Apr. 10 June 19 Sept. 16 Nov. 28 Transaction Purchased Sold Sold Purchased Sold Description 210 items & $101 125 items @ $197 225 items @ $197 160 items @ $106 115 items @ $202 Required a. Record the inventory transactions in general journal format. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 1 2 3 5 6 7 8 > Record entry inventory purchased for cash. Note: Enter debits before credits. Debit Credit Date 03/05 General Journal Inventory Accounts payable 21,210 21,210 Record entry Clear entry View general journal b. Calculate the gross margin Pam's Creations would report on the Year 2 income statement. (Amounts to be deducted should be indicated with a minus sign.) Sales Cost of goods sold Gross margin c. Determine the ending inventory balance Pam's Creations would report on the December 31, Year 2 Ending inventory