The beginning inventory of Beta Company consisted of 100 units @ $60 each. The following transactions occurred during the month of March 2013.

Mar. 05: Purchased 300 units @ $60 each on cash.

Mar: 28: Sold 250 units @ $100 each on account.

On March 31, 2013, 140 units were found by a physical count/inventory shrinkage.

The Ending inventory of Beta Company consist of 150 units @$60.

Required:

Make Journal Entries and Cost of goods sold CGS for the month of March assuming the Beta company uses:

1. Perpetual inventory system.
2. Periodic inventory system.