E6A-4A. (Journalizing inventory transactions in the periodic system; computing cost of goods sold) Use the data in Exercise 6A-3A. Requirements Journalize the following for the periodic system: 1. Total July purchases in one summary entry. All purchases were on credit. 2. Total July sales in a summary entry. Assume that the selling price was $298 per unit and that all sales were on credit. 3. July 31 entries for inventory. Haley uses LIFO. Post to the Cost of Goods Sold T-account to show how this amount is determined. Label each item in the account. 4. Show the computation of cost of goods sold by the cost-of-goods-sold model. E6A-4A. (Journalizing inventory transactions in the periodic system; computing cost of goods sold) Use the data in Exercise 6A-3A. Requirements Journalize the following for the periodic system: 1. Total July purchases in one summary entry. All purchases were on credit. 2. Total July sales in a summary entry. Assume that the selling price was $298 per unit and that all sales were on credit. 3. July 31 entries for inventory. Haley uses LIFO. Post to the Cost of Goods Sold T-account to show how this amount is determined. Label each item in the account. 4. Show the computation of cost of goods sold by the cost-of-goods-sold model