Use the following information for the next THREE questions. Beginning Inventory at Lower of Cost or Net $659,200 Realizable Value= Purchases at Cost- $236,320 Ending Inventory at Cost = $771,200 Ending Inventory at Net Realizable Value $516,600 Net Sales= $992,000 Question 4 1 pts Q4: Record the journal entry using the LOSS METHOD assuming the use of the PERIODIC SYSTEM. The debit goes to what ACCOUNT? Question 5 1 pts Q5: Record the journal entry using the LOSS METHOD assuming the use of the PERIODIC SYSTEM. The debit is for what AMOUNT? Question 6 1 pts Q6: Record the journal entry using the LOSS METHOD assuming the use of the PERIODIC SYSTEM. The CREDIT goes to what ACCOUNT? D Question 7 Q7: Compute Cost of Goods Sold assuming use of the LOSS METHOD and PERIODIC SYSTEM. Question 8 Q8: Compute ENDING INVENTORY assuming use of the LOSS METHOD and PERIODIC SYSTEM. 1 pts 1 pts