Co.s purchases and sales of a particular product during the year are shown below:

Jan. 1 Beginning Inventory Jan. 18 Purchase Jan 20 Sold Jan. 25 Purchase Jan. 27 Sold Jan. 29 Purchase 1,500 units @ $ 10 1,250 units a $ 12 1,500 units @ $20 1,750 units @ $ 14 1,750 units @ $ 25 500 units @ $ 15 Assuming that company uses perpetual inventory system, determine the cost of goods sold and compute the ending inventory as of Jan. 31 (20 pts.) and make the journal entry for Jan. 27 transaction (20 pts.) by using inventory subsidiary ledger for LIFO cost flow assumption. DATE IN Quantity Price OUT Price Quantity BALANCE Quantity Price Total Total Total Jan 1 Jan 18 Jan 20 Jan 25 Jan 27 Jan 29