Required information [The following information applies to the questions displayed below.] California Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. :ord journal entries for California Company's sales and purchases transactions. Assume for this assignment that the company uses a petual inventory system and FIFO. All sales and purchases are made on account, and no discounts are offered. Journal entry worksheet 4 Note: Enter debits before credits. Journal entry worksheet 4 Note: Enter debits before credits. Journal entry worksheet 1 Record the purchase of inventory. Note: Enter debits before credits. Journal entry worksheet 1 2 Record the sale of goods. Note: Enter debits before credits. Journal entry worksheet 1 2 3 Record the cost of sale. Note: Enter debits before credits. Journal entry worksheet 1 2 3 4 Record the purchase of inventory. Note: Enter debits before credits