System: assur Accounting records X cret $ (Amounts in thousands) Inventory, December 31, 2019 Purchases of inventory (on account) Sales of inventory-77% on account: 23% for cash (cost $1,490) Inventory at FIFO cost, December 31, 2020. 600 1,700 --- 3,000 810 Print Done yermeworkshomeworst-579981323&questioned trudd. 034120winyes ACTG 1000 Monday Homework: MYLAB 5A Score: 0 of 20 pts 4 of 6 (complete E5-13 (similar to) Accounting records for Thames Tyled the following data for the year ended December 31, 2020 in hands) Click the icon to view the accounting records) Requirements 1. Joumature Thames Tees inventory ansactions for the year under prestem and the periodicom Show amounts in thousands 2. What does do you notice in the mal entries between the perpetual stem and the periodic system? 3. Report ending inventory sales, cost of goods sold and grote prelit on the appropriate financial statements in thousando), assuming the perpetual eventory Systems Requirement 1. Joumare Thames Tees inventory transactions for the year under the perpetral system (Record debits first, then credits. Explanations are not required. Show all contain thousands) The first transaction is the purchase of inventory Record the entry Journal Entry Date Accounts Debit Credit December 31