Complete the FIFO, LIFO and WA Inventory Tables. All 3

Complete Journal Entries for just FIFO

Sierra Company completed the following transactions during May of the current year. Sierra Company uses a perpetual inventory system.

May		1.		Purchased 40 units on account from American Co., $100 per unit, terms FOB destination, 2/10, n/30
		5.		Purchased 70 units from Yuba Co., $112 per unit, terms FOB shipping point, 2/10, n/30. Sierra picked up the items on the same day and paid cash.
		7.		Sold 50 units on account to Folsom Co., sell price $200 per unit, terms 2/10, n/30.
		8.		Purchased office supplies for cash, $150.
		13.		Paid American Co. for purchase of May 1.
		14.		Purchased 50 units at price of $115 per unit from Woodland Supply for cash.
		16.		Paid employees for 2 weeks of work total was $3500
		16. 17.		Received payment from Folsom Co. Purchased 45 units at price of $105 per unit from Lassen Co. Terms 2/10 n EOM
		19.		Sold 60 units on account to Elk Grove Co for $200 per unit terms 2/10 n/30.
		22.		Sold 75 units on account to Truckee Co, for $300 per unit terms 2/10 n/30.
		25.		Provided an allowance to Truckee for $200
		31. 31. 31.		Received Payment from Elk Grove Co Received Payment from Truckee Co Paid Lassen Co.