Exercise 6-6A Record inventory transactions using a perpetual system (LO6-5) Bingerton Industries uses a perpetual inventory system. The company began the year with inventory of $75,000. Purchases of inventory on account during the year totaled $300,000. Inventory costing $325,000 was sold on account for $500,000. Required: Record transactions for the purchase and sale of inventory. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 3 Record the purchase of inventory on account. Note: Enter debits before credita Dansaction General Journal Debit Credit