The following is the post-closing trial balance of A. Norton, Camera Specialist, at 31 December 2018: DR B CB B Capital 9.000 Inventory-10 of model SLR4 Cash at bank 4 000 5.000 89.000 R9 000 Norton trades exclusively in expensive high quality cameras and the following are the transactions which took place, in chronological order, during the 2019 financial year. 1. Sold 8 of the cameras on hand at the beginning of the period for R4 800 cash. 2. Bought 5 of model SLR4 for R400 each and 8 of model XR2 for R500 each, less 20% trade discount on both models. 3. Sold 5 of model SLR4 for R450 each and 1 of model XR2 for R600 on credit. 4. Bought 4 of model SLR4 for R340 each for cash and paid an extra R40 for transport. 5. 6. Two of the model SLR4 cameras sold under 3. above were returned by dissatisfied customers. Norton kept one camera for his own personal use and returned the other, which was defective, to the supplier and the latter gave a cash refund. Both cameras had been part of the beginning-of-period inventory on hand. Bought 3 of model PXT3 for R250 each on credit. Other relevant information: (1) Norton accounts for inventory using a perpetual recording system and uses the FIFO (first-in-first-out) basis of valuation. (2) (3) The demand for model SLR4 dropped towards the end of 2019 owing to the introduction of the more sophisticated PXT3 model. At 31 December 2019 the local retail price of the SLR4 model was R330. A physical count of cameras on hand at 31 December 2019 showed: Model SLR4 Model XR2 6 cameras 6 cameras REQUIRED: The PXT3 models were not delivered until mid-January 2020. (a) Entries in general journal form (without narrations) to record: (b) the transactions 1. to 6. above any end-of-period adjustments which may be necessary a compound closing entry. Show perpetual inventory records for each model of camera as part of your workings and cost of sales calculations. Show how the item inventory should be disclosed on the firm's Statement of Financial Position at 31 December 2019.