At the beginning of the year, Grouper Ltd. had 910 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 730 units on account for $10 each.
	9		Purchased 970 units on account for $6 per unit.
	15		Sold 840 units for cash at $9 each.

Prepare journal entries for these January transactions assuming that Grouper Ltd. uses FIFO under a periodic inventory system. Grouper updates records at month end.

Date	Account Titles and Explanation	Debit	Credit
Jan. 3
9
15
31