.College Coasters is a San Diego-based merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1. Cash $ 8,600 Accounts Receivable 1,860 Inventory 500 Prepaid Rent 660 Equipment 750 Accumulated Depreciation 90 Accounts Payable 1,250 Salaries and Wages Payable 300 Income Taxes Payable 0 Common Stock 5,600 Retained Earnings 3,000 Sales Revenue 14,350 Cost of Goods Sold 7,920 Rent Expense 1,210 Salaries and Wages Expense 1,800 Depreciation Expense 90 Income Tax Expense 0 1,200 Office Expense 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 1,000 coasters, all of which were purchased in a batch on July 10 at a unit cost of $0.50 Colle Coasters records its inventory using perpetual Inventory accounts and the FIFO cost flow method During December, the company entered into the following transactions Some of these transactions are explained in greater detail below.