Consider the January transactions for Haupt Consulting Company. (Cost data has been removed from the sale transactions.)

Requirements
1. Prepare perpetual inventory records for January for Haupt using the LIFO perpetual method. (Note: You must figure cost on the 18th, 22nd, 28th, and 31st.)
2. Journalize and post the January transactions using the perpetual inventory record created in requirement 1. Key all items by date. Compute each account balance, and denote the balance as Bal.
3. Journalize and post the adjusting entries. Denote each adjusting amount as Adi.
After posting all adjusting entries, prove the equality of debits and credits in the ledger.

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Jan 2 Completed a consulting engagement and received cash of $7,200 2 Prepaid three months' office rent, $1,500 7 Purchased 100 units software inventory on account, $1,900, plus freight in, $100 16 Paid employee salary, $1,400 18 Sold 70 software units on account, $3,100 19 Consulted with a client for a fee of $900 on account 21 Paid on account, $2,000 22 Purchased 200 units software inventory on account, $4,600 24 Paid utilities, $300 28 Sold 100 units of software for cash, $4,000 31 Recorded the following adjusting entries: Accrued salary expense, $1,400 Depreciation, $200 Expiration of prepaid rent, $500 Physical count of inventory, 120 units