Blossom Company sells one product. Presented below is information for January for Blossom Company.

Jan. 1 Inventory 123 units at $5 each

4 Sale 98 units at $8 each

11 Purchase 136 units at $6 each

13 Sale 103 units at $9 each

20 Purchase 169 units at $7 each

27 Sale 108 units at $11 each

Blossom uses the FIFO cost flow assumption. All purchases and sales are on account.

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(a)

Assume Blossom uses a periodic system. all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 119 units. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date Account Titles and Explanation Debit Credit

choose a transaction date enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

choose a transaction date

enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

choose a transaction date

enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

choose a transaction date

enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

choose a transaction date

enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

choose a transaction date

enter an account title for the journal entry on January 31 enter a debit amount enter a credit amount

enter an account title for the journal entry on January 31 enter a debit amount enter a credit amount

enter an account title for the journal entry on January 31 enter a debit amount enter a credit amount

enter an account title for the journal entry on January 31 enter a debit amount enter a credit amount