Bingerton Industries uses a perpetual inventory system. The company began the year with inventory of $78,000. Purchases of inventory on account during the year totaled $303,000. Inventory costing $328,000 was sold on account for $506,000. Required: Record transactions for the purchase and sale of inventory. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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Home » Business » Bingerton Industries uses a perpetual inventory system. The company began the year with inventory of $78,000. Purchases of inventory on account during the year totaled $303,000. Inventory costing $328,000 was sold on account for $506,000.