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value 0.60 points A company uses a perpetual system...

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Accounting

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value 0.60 points A company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 9, 2018, for $50,000 and then sells this inventory on account on March 7, 2018, for $70,000 Record the transactions for the purchase and sale of the inventory. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 1 Record the purchase of inventory on account. 2 Record the sale of inventory on account. Record the cost of inventory solod

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