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CPI sells computer peripherals. At December $31,$ year $1,$ CPI's Inventory amounted to $$690,000.$ Durling the first week in January, year

$2,$ the company made only one purchase and one sale. These transactions were as follows.

Jan$\mathrm{.}2$ Purchased $20$ nodens and $80$ printers fron Sharp. The total cost of these nachines was $$44,600,$ terns $\frac{3}{10},$ n$/60.$

Jan$\mathrm{.}6$ Sold $30$ different types of products on account to Pace Corporation. The total sales price was $$29,600,$ terns $\frac{5}{10},$ n$/90.$ The

total cost of these $30$ units to CPI was $$14,580($net of the purchase discount$).$

CPI has a full$-$time accountant and a computer$-$based accounting system. It records sales at the gross sales price and purchases at net

cost and malintains subsidlary ledgers for accounts recelvable, Inventory, and accounts payable.

Required:

b$.$ Prepare journal entrles to record these transactions, assuming that CPI uses a perpetual Inventory system.

c$.$ Compute the balance in the Inventory account at the close of business on January $6.$

d$.$ Prepare Journal entrles to record the two transactions, assuming that CPI uses a perlodic inventory system.

e$.$ Compute the cost of goods sold for the first week of January assuming use of the perlodic system. $($Use your answer to part c as the

ending inventory.$)$

g$.$ Compute the gross profit margin on the January $6$ sales transaction.

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