Question Help Eric's Powersports uses the perpetual) LIFO inventory method. Eric's Powersports started December with 6 helmets that cost $55 each. On December 19, Eric's Powersports bought 9 helmets at $56 each. On December 28, Eric's Powersports sold 7 helmets. 1. The December 19 purchase of inventory was on account. 2. The December 28 sale of inventory was on account. Eric's Powersports sold each helmet for $104, Prepare the required journal entries for the purchase and sale of inventory. (Record debits first, then credits. Exclude explanations from any journal entries.) 1. Prepare the journal entry for the purchase of inventory on account. December 19: Eric's Powersports bought 9 helmets at $56 each. Journal Entry Accounts Accounts payable Debit Date 19 Credit Dec 2. Prepare the journal entry for the sale of inventory on account. Begin by journalizing the revenue portion of the sale. December 28: Enc's Powersports sold 7 helmets. Eric's Powersports sold each helmet for $104. (Do not journalize the cost related to the sale yet. We will do this in the next journal entry) Choose from any list or enter any number in the input fields and then continue to the next