Could you give me the entry to these...? Using PERIODIC METHOD?

Question

Could you give me the entry to these...?
Jan 8 Purchase land and building with a lump sup price of 2,000,000. 45% of which will be allocated to the building.

Jan 9 Purchased 10,000 units of merchandise (CD) at $100 unit price (Cash Basis). Freight charges to this purchase amounts to P1,000.

Jan 21 Sold 4000 units CD at $330 per CD.(Periodic Method)

Feb 5 Sold 3,300 CDs at $350 per CD on Account.

Feb 10 Issued credit memo for the 100 units of merchandise returned to the sales on Feb 5.

Feb 14 Returned the merchandise received on Feb 10 to the supplier. This is related to the purchase on Jan 9.

Feb 23 Sold 1000 units of CDs at $290 unit price. (10% on cash basis and the remainder on account).

Please explain to me why....

Thanks....

Answer 1

The previous answer I gave to this question already assumes the periodic method where indicated. The terms periodic and perpetual refer to inventory accounting methods and are meaningless when applied to land and buildings.