A company sells golf putters to customers, on the account, at a selling price of $126 each. Assume that the company uses the FIFO inventory costing method and a perpetual inventory system. Additional information for the month is as follows:

A company sells golf putters to customers on account, at a selling price of $126 each Assume that the company uses the FIFO inventory costing method and a perpetual inventory system. Additional follows for at on for the month is as (Click the icon to view the records.) Data Table What is the cost of ending inventory? The cost of ending inventory using the FIFO method is S324 What is cost of goods sold for the month? The cost of goods sold using the FIFO method is S 1695 Requirement 2. Prepare the following two selected journal entries for the company. (Choose Prepare the first of the two entries needed on the 17th: Date Item Quantity Unit Cost Apr. Balance 6 Sale 13 S 75 8 Purchase 12 S 85 17 Sale 12 30 Sale Print Done Date Accounts and Explanation Debit Apr. 17 account receivable sales revenue To record sale on account Prepare the second of the two entries needed on the 17th Date Accounts and Explanation Debit Credit Apr. 17 cost of goods sold