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Required information Problem 5-20A Allocating product costs between cost of goods sold and ending inventory: intermittent purchases and sales of merchandise LO 5-1 [The following information applies to the questions displayed below.) Pam's Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 290 items at $97 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. Date Mar. 5 Apr. 10 June 19 Sept. 16 Nov. 28 Transaction Purchased Sold Sold Purchased Description 270 items @ $105 155 items @ $209 285 items @ $209 220 items @ $112 145 items @ $ 214 Sold Problem 5-20A Part a Required a. Record the inventory transactions in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list X: 1 Record entry inventory purchased for cash. > 2 Record sale of inventory for cash. 3 Record entry for cost of goods sold. 4 Record sale of inventory for cash. 5 Record entry for cost of goods sold. Credit 6 Record entry inventory purchased for cash. 7 Record sale of inventory for cash. 8 Record entry for cost of goods sold. Note : = journal entry has been entered Record entry Clear entry View general journal

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