create a journal entry with $6$ entries and $2$ partial income statements LIFO and FIFO method

$.$ You must record the transactions in the order listed in the table below:

$$

Quantity

Cost per Item

Sales Price per Item

Beginning Inventory $**$

$7$

$$4$

Sale #$1$

$5$

$$8$

Purchase #$1$

$4$

$$6$

Sale #$2$

$4$

$$12$

Purchase #$2$

$2$

$$8$

$**$Beginning Inventory is a Balance Sheet amount and doesn$$t require a Journal Entry

Use this data for Specific Identification inventory Journal Entries:

You must record the transactions in the order listed in the table below:

Quantity

Cost per Item

Sales Price per Item

Beginning Inventory $$ Blue$**$

$7$

$$4$

Sale #$1$ Blue

$5$

$$8$

Purchase #$1$ All Red

$4$

$$6$

Sale #$21$ Blue, $3$ Red

$4$

$$12$

Purchase #$2$ All Yellow

$2$

$$8$

$**$Beginning Inventory is a Balance Sheet amount and doesn$$t require a Journal Entry