A company sells golf putters to customers, on account, at a selling price of $105 each. Assume that the company uses the FIFO inventory costing method and a perpetual inventory system. Additional information for the month is as follows: E (Click the icon to view the records.) The Costur ending memory using the rirumemo is UUU What is cost of goods sold for the month? The cost of goods sold using the FIFO method is $ 1,176 Requirement 2. Prepare the following two selected journal entries for the company. (Choose the explanation on the last line of the entry table.) Prepare the first of the two entries needed on the 17th: Date Debit Credit i Accounts and Explanation Accounts Receivable Data Table Sep. 17 1,260 Sales Revenue 1,260 Date Item Quantity Unit Cost Sep. 1 Balance 8 $ 72 To record sale on account. 6 Sale 2 8 12 $ 75 Prepare the second of the two entries needed on the 17th: 17 Purchase Sale Sale 12 Date Accounts and Explanation Debit Credit 30 2 Sep. 17 Cost of goods sold Merchandise Inventory Print Done To record the cost of goods sold