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Please show all work, thank you. Question A (First Day Quiz): Assume a...

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Accounting

Please show all work, thank you.

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Question A (First Day Quiz): Assume a company uses perpetual FIFO for inventory valuation. Please prepare the journal entries associated with the following transactions: 1. January 1: Purchased 500 its of inventory for $5000n account (didn't pay for it yet). 2. January 3: Purchased 1000its of inventory fo $11500ith cash. 3. January 5: Paid $5000 or inventory purchased on January 1. 4. January 10: Sold 500 ts of inventory fc $25 each cash. 5. January 14: Sold 1000 ts of inventory fo $30 each on credit. 6. January 21: Received payment $30000 for inventory sold on January 14

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