(B) Enter the December I balances in the ledger T-accounts and post the December trans-

actions. In addition to the accounts mentioned above, use the following additional

accounts: Cost of Goods Sold, Depreciation Expense, Salaries and Wages Expense,

Salaries and Wages Payable, Sales Revenue, and Sales Returns and Allowances.

(c) Prepare an adjusted trial balance as of December 31, 2020.

(d) Prepare an income statement for December 2014 and a classified balance sheet at

December 31, 2020.

(e) Compute ending inventory and cost of goods sold under FIFO, assuming Annalise

Company uses the periodic inventory system.

(F) Compute ending inventory and cost of goods sold under LIFO, assuming Annalise

Company uses the periodic inventory system.

Current Attempt in Progress On December 1, 2020, Annalise Company had the account balances shown below. Debit Credit Cash $ 4,800 Accumulated Depreciation Equipment $ 1.500 Accounts Receivable 3.900 Accounts Payable 3,000 Inventory 1.800" Owner's Capital 27,000 Equipment 21.000 $31.500 $ 31,500 "(3,000 x $0.60) The following transactions occurred during December Dec. 3 5 7 Purchased 4.000 units of inventory on account at a cost of $ 0.74 per unit. Sold 4.400 units of inventory on account for $0.90 per unit (Annalise sold 3,000 of the $0.60 units and 1,400 of the $ 0.74.) Granted the December 5 customer $180 credit for 200 units of inventory returned costing $ 120. These units were returned to inventory Purchased 2,200 units of inventory for cash at $0.80 each Sold 2, 100 units of inventory on account for $0.95 per unit. (Annalise sold 2,100 of the $0.74 units.) 17 22 Adjustment data: 1 Accrued salaries payable $400 Depreciation $ 200 per month 2 (a) (a) Journalize the December transactions and adjusting entries, assuming Annalise uses the perpetual inventory method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Dec 1 Cash Accounts Receivable Dec 1