ion. wing at July 31 0 Data Table & - X Jul 1 Beginning inventory 8 Purchase how this amou 15 Purchase 26 Purchase 6 units @ $ 120 = $ 720 4 units @ $ 120 = 480 11 units @ $ 130 = 1.430 5 units @ $ 140 = 700 The physical count of inventory at July 31 indicates that eight units of inventory are on hand. Print Done amber in the input fields and then click Check Answer Question Help Suppose a technology company's inventory records for a particular computer chip indicate the following at July 31 (Click the icon to view the inventory information) Required Joumalize the following for the periodic system 1. Total July purchases in one summary entry. All purchases are on Credit 2. Total July sales in a summary entry. Assume that the selling price was $315 per unit and that all sales were on credit 3. July 31 entries for inventory. The company uses weighted average cost 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 Accounts Debit Credit Choose from any list or enter any number in the input fields and then click Check