a. Record the inventory transactions in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b. Calculate the sales, cost of goods sold, and gross margin Pams Creations would report on the Year 2 income statement. (Amounts to be deducted should be indicated with a minus sign.) c. Determine the ending inventory balance Pams Creations would report on the December 31, Year 2, balance sheet.

Required information The following information applies to the questions displayed below.j Pam's Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 220 items at $90 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records Description 200 items @$100 120 items$195 215 items$195 150 items $105 110 items@$200 Date Transaction Mar. 5 Apr. 10 June 19 Sept. 16 Nov. 28 Purchased Sold Sold Purchased Sold