The following inventory transactions apply to Green Company for Year 2: ...
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Accounting
The following inventory transactions apply to Green Company for Year 2:
| Jan. 1 | Purchased | 260 | units | @ | $ | 9 | |
| Apr. 1 | Sold | 130 | units | @ | $ | 19 | |
| Aug. 1 | Purchased | 350 | units | @ | $ | 10 | |
| Dec. 1 | Sold | 438 | units | @ | $ | 20 | |
The beginning inventory consisted of 195 units at $10 per unit. All transactions are cash transactions. Required a. Record these transactions in general journal format assuming Green uses the FIFO cost flow assumption and keeps perpetual records. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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