#2 Required: a) Prepare the required journal entries to record the following transactions assuming the FIFO inventory perpetual method. Ignore taxes. Beginning inventory was 5,000 units costing $6 per unit Nov. 3 - Purchased 15,000 units of inventory at $7 per unit on credit Nov. 10 - Paid for the purchase made on Nov. 3rd, Nov. 30 - Sold 12,000 units for $20 per unit on credit Dec. 30 - the customer of Nov. 30 paid their account JE Review Case b) Record the sales journal entry for Nov. 30 instead assuming that PST is 7% and GST is 5%