Exercise 8-9 Blue Company sells one product. Presented below is information for January for Blue Company. Jan. 1 Iory 125 units at $4 each 104 units at $8 each 11 Purchase 158 units at $6 each 130 units at $9 each 20 Purchase 149 units at $6 each 4 Sale 13 Sale 27 Sale 87 units at $11 each Blue uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Blue uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record co that the ending inventory for January is 111 units. (If no entry is required, select "No entry" for the account titles and en titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit