Exercise 8-09 (Part Level Submission) Swifty Company sells one product. Presented below is information for January for Swifty Company. Jan. 1 Inventory Sale 4 11 103 units at $5 each 82 units at $8 each 135 units at $7 each 102 units at $9 each 167 units at $7 each 108 units at $11 each Purchase Sale Purchase 13 20 27 Sale Swifty uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Swifty uses a perpetual system. Prepare all necessary journal entries. (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.) Date Account Titles and Explanation Debit Credit Jan. 4 Accounts Receivable 656 656 Sales Revenue (To record the sale) Cost of Goods Sold 410 Inventory 410 (To record the cost of Inventory) Jan. 11 Inventory 945 Accounts Payable 945 Jan. 13 TAccounts Receivable 918 918 Sales Revenue (To record the sale) Cost of Goods Sold 291 Inventory 291 To record the cost of Inventory) (To record the cost of inventory) Jan. 20 v Inventory 1169