At the beginning of the year, Swifty Ltd. had 930 units with a cost of $7 per unit in its beginning inventory. The following inventory transactions occurred during the month of January:

Jan.	3		Sold 720 units on account for $13 each.
	9		Purchased 960 units on account for $8 per unit.
	15		Sold 800 units for cash at $12 each.

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