Backflush costing Consider the following data pertaining to March for a firm that has adopted JIT. a. Assuming that the company uses a traditional costing system, record the journal entries to recognize the following: 1. purchase of material 2. incurrence of canversian costs 3. completion of the month's production 4. sale of the month's production Note: If an entry is not required, list "N/A" for the account names and put zero in for the amounts or leave blank. 1. incurrence of conversion costs 2. completion of production 3. backflushing of costs to inventories Note: If an entry is not required, list "N/A" for the account names and put zero in for the amounts or leave blank