The following data pertain to Zed Scarf and Hat for the year ended December 31, 2020: E (Click the icon to view the data.) Required a. Prepare entries for the following transactions using a perpetual inventory system: i. Purchase of inventory during 2020 ii. Sales during 2020 iii. Cost of goods sold during 2020 b. Compute the balance in the Inventory account on December 31, 2020 . Data - X Beginning inventory Purchases of inventory on credit during the year Cost of goods sold during the year Sales (80% on credit) during the year $ 206,000 456,000 64% of sales 770,000 pns Print Done