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Required information Use the following information for the Exercises 11-13 below. (Algo) Skip to question...

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Accounting

Required information Use the following information for the Exercises 11-13 below. (Algo) Skip to question [The following information applies to the questions displayed below.] Tree Seedlings has the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retail January 1 Beginning inventory 110 units @ $2 = $ 220 January 3 Sales 90 units @ $ 8 February 14 Purchase 156 units @ $3 = $ 468 February 15 Sales 130 units @ $ 8 June 30 Purchase 160 units @ $4 = $ 640 November 6 Sales 128 units @ $ 8 November 19 Purchase 48 units @ $5 = $ 240 Totals 474 units $ 1,568 348 units Exercise 5-12 (Algo) Perpetual: Journalizing transactions LO P1 Record journal entries for Tree Seedlings sales and purchases transactions. Assume for this assignment that the company uses a perpetual inventory system and LIFO. All sales and purchases are made on account, and no discounts are offered

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