E12 - 2 The following information has been extracted from the general ledger of Green Grass Smoothies: C Sales 80 000 Inventory: 1 January 20X1 17 500 Inventory: 31 December 20X1 15 000 Administration costs Paid in cash 3 600 Green Grass Smoothies calculates selling prices using a constant gross profit percentage of 25%. The sales referred to above comprised 60% credit sales and 40% cash sales and have been presented net of C1 600 in credit sales returns that occurred during the year. Account: s9751444.main.ehost Chapter 12 Inventory and Cost of Sales All inventory purchases were bought on credit. The stock count at 31 December 20X1 revealed no inventory shortages. You are required to: a. Calculate the purchases made during the year ended 31 December 20X1. b. Show the journals that would have been processed during the year ended 31 December 20X1 assuming the perpetual system was used. Ignore VAT and closing entries