date	purchases	cost of goods sold	inventory balance
1	200 units of $3 =$600		200 units of $3 =$600
3	300 units of $4=$1200		300 units of $4=$1200
8	100 units of $5=$500		100 units of $5=$500
10		200 units of $3 =$600	200 units of $4=$800
		100 units of $4=$400	100 units of $5=$500
15	100 units of $5=$500		200 units of $4=$800
			100 units of $5=$500
			100 units of $5=$500
20		200 units of $4=$800	100 units of $5=$500
			100 units of $5=$500
27	100 units of $6=$600		100 units of $5=$500
			100 units of $5=$500
			100 units of $6=$600
		=$1800	=$1600

Prepare the journal entries required to record purchases and sales using the FIFO inventory cost flow assumption.