Practice Problem 4 - Periodic & Perpetual A company purchased inventory for a cost of $65,000 on June 1. The company returned goods with a cost of $6,000 on June 12. On June 14, goods with a cost of $21,000 were sold to the customer for $42,000. Inventory actually counted at the end of June totaled $48,000. Purchases and sales were for cash. Beginning inventory is $12,000. Required: Make the appropriate journal entries for the transactions related to inventory using: 1) the periodic method and 2) the perpetual method.