C9 Homework Navigation Finish attempt... Question 4 Incomplete answer Marked out of 10.00 Flag question Periodic and Perpetual Systems-Recording Purchases and Sales and Year-End Adjustments; Preparing an Income Statement Carlisle Company reports the following summary results from its transactions during 2020 for its main product. Total expenses (excluding damaged goods, cost of goods sold, and income taxes) were $47,800. Units Unit Price Begninning inventory $18 (cost) 6,000 Purchases Purchase returns Sales (gross) Sales returns 20,000 $18 (cost) 1,000 $18 (cost) 18,000 $25 (selling price) 100 $25 (selling price) Damaged merchandise (unsalable) 100 $18 (cost) Ending inventory or physical count (salable) 6,900 Inventory shortage ? Perpetual Inventory System Periodic Inventory System Multiple-Step Income Statements b. Prepare the following journal entries for the transactions summarized above assuming that the company uses the periodic inventory system. 1. Purchase of inventory 2. Return of inventory to suppliers 4. Return of sales from customers 3. Sale of inventory 5. Recording of expenses 6. Year-end adjustment to record inventory and cost of sales Account Name 1 Accounts Receivable Dr. Cr. 0 0 0 0 2 = 0 0 0 0 3 = 0 0 = 0 0 4 = 0 0 5 Expenses 0 0 = 0 0 6 Inventory, Ending 0 0 = 0 Cost of Goods Sold 0 0 0 0 0 Inventory, Beginning Please answer all parts of the question.