Kangaroo Jim Company reported beginning inventory of 100 units at a per unit cost of $ 25. It had the following purchase and sales transactions during the year:

Jan. 14 Sold 25 units at unit sales price of $ 45 on account.

Apr. 9 Purchased 15 additional units at a per unit cost of $ 25 on account.

Sept. 2 Sold 50 units at a sales price of $ 50 on account.

Dec. 31 Counted inventory and determined 40 units were still on hand.

Required:

Record each transaction, assuming that Kangaroo Jim Company uses (a) a perpetual inventory system and (b) a periodic inventory system.