The JAB Company uses the perpetual inventory system with a subsidiary ledger for inventory. Enter the following information into the inventory balance for product U47. Be sure to keep the balance on hand up-to-date.

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201X 5 Purchased on account 5 units at a cost of $8 each. (Inventory on hand prior to this purchase was zero units.) Nov. 6 Sold 2 units for $16.40 each. (Hint: The inventory record only contains informa- tion about the cost of a product, not the selling price!) This is a cash sale. 7 Sold 2 units for $15.40 each. This is a cash sale. 10 Purchased on account 13 additional units at a cost of $8 each.