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applies to the questions displayed below] Tracer Advance Corporation (TAC) sells a tracking implant that veterinarians surgically insert into pets. TAC tegan Jaruary with an inventory of 200 tags purchased from its supplier in in December last year at a cost of $17 per tag TAC uses a perpetual inventory system to account for the last year at a cost of $1M per tag, plus 100 tag following transactions gave 258 tags to a courier company (ups) to deliver to veterinarian customers. The sales price wes 563 p Jan. 4 UPs conf irmed that all 258 tags were delivered today to customers. Jan. 19 The 356 tegs 3an. 23 TAC gave 37s tags to UPS, which were delivered "same day" to veterinarian customers st a price of $62 per t tag, and the sales terms were n/3e, FOB shipping point as possible. TAC agreed to a cost of $24 per tag, n/se. tag ($358 total) n/30, FOB shipping point account for the missing 5 tags. d 358 tags from its supplier. The supplier was out of stock but promised to send then to 1C as soo on January 9 were shipped to and received by TAC today. TAC complained about the delay order and shipment date, so the supplier reduced the anount TAC owed by granting an allowance of e Jan. 28 TAC received cash payment from customers for 125 of the tags delivered January 4. Jan. 31 TAC counted its inventory and determined 20tags - to e on hand. TAC made a Required Assume TAC uses FIFO in its perpetual inventory system. Prepare the journal entry for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) cso K Prex

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