Backflush Costing; Entries in RIP and Finished Goods. The Sweetwater Manufacturing Company has a cycle time of 1.5 days, uses a raw and in process (RIP) account, and charges all conversion costs to Cost of Goods Sold. At the end of each month, all inventories are counted, their conversion cost components are estimated, and inventory account balances are adjusted. Raw material cost is backflushed from RIP to Finished Goods. The following information is for June: LO7 Beginning balance of RIP account, including $1,200 of conversioncost. $ 11,700 Beginning balance of finished goods account, including $4,000 of conversioncost. 12,000 Raw materials received oncredit. 222,000 Ending RIP inventory per physical count, including $1,800 conversion cost estimate. 12,800 Ending finished goods inventory per physical count, including $3,500 conversion costestimate. 9,500 Required: Prepare all journal entries that involve the RIP account and/or the finished goods account.