Exercise 8- Windsor Company sells one product. Presented below is information for January for windsor Company. Windsor uses the FIFO cost flow assumption. All purchases and sales are on account Assumt Windsor uses a periodic systern. Prepare all necessary journal nen, g etaf-month closing entry to ord cost of goods sold. A physical cont ates that , eang ne on for Jan ary s 111 units. (ar no entry is required, select "No entry" for the account itles and enter O for the amounts manualy Credit account titles are a utomatically indented when Compute gross profit using the periodic system. Assume Windsor uses a perpetual system, Prepare all necessary journal entries (2f no entry is required select "No entry for the account titles and enter O for the amounts. Credit account eitles are automatically indented when amount is entered. Do not indent manuallty Compute gross profit using the perpetual system Exercise 8-9 Windsor Company sells one product. Presented below is information for January for Windsor Company Jan. 1 Inventory 4 Sale 11 13 Sale 20 27 Sale 113 units at $4 each 92 units at $8 each 141 units at $6 each 112 units at $9 each 154 units at $7 each Purchase Purchase 93 units at $11 each study Windsor uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Windsor uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 111 units. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. tles and Esolanati