There are three parts

Required information [The following information applies to the questions displayed below.] Inventory at the beginning of the year cost \\( \\$ 12,400 \\). During the year, the company purchased (on account) inventory costing \\( \\$ 79,000 \\). Inventory that had cost \\( \\$ 75,000 \\) was sold on account for \\( \\$ 91,000 \\). At the end of the year, inventory was counted and its cost was determined to be \\( \\$ 16,400 \\). Prepare journal entries to record these transactions, assuming a perpetual inventory system is used. (If no entry is required for a transaction/event, select \"No Journal Entry Required\" in the first account field.) Journal entry worksheet Record the inventory purchased of \\( \\$ 79,000 \\) on account. Note: Enter debits before credits