At the beginning of the year, Ayayai Ltd. had 950 units with a cost of $ 5 per unit in its beginning inventory. The following inventory transactions occurred during the month of January: Jan. 3 Sold 710 units on account for $ 10 each. 9 Purchased 1,040 units on account for $6 per unit. 15 Sold 820 units for cash at $ 9 each. 15 Cash 7380 Sales 7380 (To record sale) 15 Cost of Goods Sold Inventory 0 (To record the inventory) (b) Your answer is partially correct. Prepare journal entries for these January transactions assuming that Blue Ltd. uses FIFO under a periodic inventory system Blue updates records at month end. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually . If no entry is required, select "No Entry" for the account titles and enter for the amounts)