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Assume chipolo uses weighted average cost and LIFO in its perpetual inventory system Please help for these journal entries (The following information applies to the

Assume chipolo uses weighted average cost and LIFO in its perpetual inventory system
Please help for these journal entries image text in transcribed
(The following information applies to the questions displayed belowJ Chipolo sells a coin-sized tracking tag that attaches to keys, wallets, and other personal items. Chipolo began January with an inventory of 300 tags purchased from its supplier in November last year at a cost of $19 per tag, plus 200 tags purchased in December last year at a cost of $22 per tag. Chipolo sells the tags at a price of $36 per tag, on account with terms n/30, FOB destination. Chipolo uses a perpetual inventory system to account for the following transactions. Jan. 8 Chipolo gave 350 tags to a courier company (FedEx) to deliver to customers. Dan. 9 FedEx confirmed that all 350 tags were delivered today to customers. Jan. 11 Chipolo ordered 450 tags from its supplier. The supplier was out of stock but promised to send them to Chipolo as soon as possible. Chipolo agreed to a cost of $28 per tag, n/30. Jan. 17 Chipolo received cash payment from customers for 125 of the tags delivered 8 days earlier Jan. 21 The 450 tags ordered on January 11 were shipped to and received by Chipolo today. Jan. 23 Chipolo gave 475 tags to FedEx, which were delivered "same day" to customers. an. 31 Chipolo counted its inventory and determined 115 tags were on hand. Chipolo made a "book- to-physical adjustment" to account for the missing 10 tags. Assume Chipolo uses weighted average cost in its perpetual inventory system. Prepare the journal entry for each transaction. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to 2 decimal places.) View transaction list Journal entry worksheet 5 Record the tags delivered to customers. Note: Enter debits before credits

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