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Tamarisk, Inc. uses a perpetual inventory system. Its beginning inventory consists of 280 units that cost $220 each. During August, the company purchased 380 units

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Tamarisk, Inc. uses a perpetual inventory system. Its beginning inventory consists of 280 units that cost $220 each. During August, the company purchased 380 units at $220 each, returned 10 units for credit, and sold 540 units at $400 each. Journalize the August transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record purchase of inventory) (To record purchase return of inventory) (To record sales) (To record cost of goods sold)

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