plus the following additional requirement: > Prepare the same journal entries under the perpetual inventory costing system using the FIFO cost flow assumption. Compare the similarities and differences between journal entries recorded using the perpetual and periodic inventory systems.

23 Appendix: recording inventory activity Lo8 Campbell Company starts the month of January with 40 boxes of Platypus Bars costing $20 each. The following transactions occurred during the month Purchased 15 additional boxes for $22 each. Paid with cash. Paid freight costs of $30 on 2 January purchase. Sold 45 boxes for $40 each. Purchased 10 additional boxes on account for $23 each. 2 Jan. 4 Jan. 10 Jan. 27 Jan. Required Assuming that Campbell uses a periodic inventory system, prepare all necessary journal entries related to Campbells inventory activity. Calculate the cost of goods sold and the ending inventory under the FIFO, LIFO and weighted average costing methods