College Coasters is a merchandiser specializing in logo-adorned drink coasters. The company needs to analyze and record remaining transactions and adjustments for the month of December, prepare the appropriate trial balances, the close the necessary accounts for the month. The company reported the following balances in its post-closing trial balance at November 30, 2013. The company buys coasters from one Supplier. All amounts in Accounts Payable on December 1 are owed to that supplier. The inventory on December 1 consisted of 10,000coasters, all of which were purchased in July at a unit cost or $0.50. College Coasters uses the FIFO cost flow method. During December 2013, the company entered into the following transactions. Some of these transactions are explained in greater detail below. Other relevant information includes the following