Richmond Company's inventory records for its retail division show the following at December 31 : (Click the loon to view the accounting records.) At December 31,8 of these units are on hand. Read the equitements Requirement 1. Joumalize for Richmond total December purchases in one summary entry, under the perpetual system. All purchases were on credit, (Record debits first, then credits. Exclide explanations trom any joumal entries.) Requirement 2. Joumalize foe Fectmond total December sales and cost of goods sold in two summary entries, under the pepetual system, The selling price was 5560 per unit and al saibs were on credit Assume that Fichmond uses the FiFO itventory method. (Record debits first then credits. Exclude explanations from any joumal entries.) Lets start by recording the entry for December sales. Do not yat record the cost related to the sale. We wil do this in the nout foumal entry. Richmand Company's inventory records for its retail divislon show the following at December 31: (Cick the icon to view the abcounting rocords) A December 31, 8 of these units are on hand. Read the resuinments Wow tecoen the enty for the cost of irrentocy sold assuming FFFO The gros eroht admed in therat trarisactora is The foro cou of onding ine-meyy a Data table