Activities Beginning inventory Required information [The following information applies to the questions displayed below.)] Tree Seedlings has the following current-year purchases and sales for its only product. Date January 1 January 3 Sales Units Acquired at Cost Units Sold at Retail 40 units $2 $ 80 30 units. @ $8 February 14 February 15 June 30 November 6 November 19 Sales Purchase Sales Purchase units $3- 90 units $ 210 60 units @ $8 $4- $ 360 86 units $8 Purchase Totals 20 units 8 $5 220 units $ 100 $ 750 176 units Record journal entries for Tree Seedlings' sales and purchases transactions. Assume for this assignment that the company uses a perpetual inventory system and LIFO. All sales and purchases are made on account, and no discounts are offered. View transaction list Journal entry worksheet < 1 2 3 4 5 9 Record the sale of goods. < Prev Next >