solve part b

At the beginning of the year, Point Claire Shipping Ltd. a company that has a perpetual inventory system, had $55,000 of inventory. During the year, inventory costing $220,000 was purchased. Of this, $26,000 was returned to the supplier and a 5% discount was taken on the remainder. Freight costs incurred by the company for inventory purchases amounted to $2,700. The cost of goods sold during the year was $218,000 Determine the balance in the inventory account at the end of the year. Balance in the inventory account $ Save for Lister Attempts: 0 of 1 used Submit Answer Sain Advertising Ltd's opening trial balance on January 1 shows Supplies $1.500. On January 11, the company purchased additional supplies for $1,800 on account. On January 31, there are $1,100 of supplies on hand. (a) Your answer has been saved. See score details after the due date. Prepare the journal entry to record the purchase of supplies on January 11. (List all debit entries before credit entries. Credit account titles are automatically intended when the amount is entered Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Jan 11 Sule Debit Credit 51300 Accounts Payable 57.000 Attempts: 1 of 1 used (b) Calculate the amount of supplies used during the month Supplies used