Riverbed Inc. has provided you with the following information. This company purchases its inventory from a supplier for cash and has only cash sales. Riverbed uses the average cost formula in a perpetual inventory system. Increased competition has recently reduced the price of the product. Unit Price Unit Cost $78 89 Date Apr. 1 6 8 15 20 27 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases Units 50 110 (130) 120 (120) 20 $116 70 96 62 (a) (b) (c) (d) Your answer is partially correct. Based on your answer to part (c), determine whether the company should record a journal entry at the end of April and, if so, prepare the entry. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 1.25. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Account Titles and Explanation No Entry 0 No Entry Riverbed Inc. has provided you with the following information. This company purchases its inventory from a supplier for cash and has only cash sales. Riverbed uses the average cost formula in a perpetual inventory system. Increased competition has recently reduced the price of the product. Unit Price Unit Cost $78 89 Date Apr. 1 6 8 15 20 27 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases Units 50 110 (130) 120 (120) 20 $116 70 96 62 (a) (b) (c) (d) Your answer is partially correct. Based on your answer to part (c), determine whether the company should record a journal entry at the end of April and, if so, prepare the entry. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 1.25. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Account Titles and Explanation No Entry 0 No Entry