Fit for Life (FFL) operates a fitness center and snack lounge. The following is a partial list of FFL transactions during its year ended December 31. FFL adjusts its records only at year-end 14 an. 6 Purchased and received 40 nutritional bars for s98, n/45 Dan. 8 FFL sold 58 nutritional bars to Big Jin for $294 cash, which includes $27 of sales tax. Apr. 30 FFL received sss, see fron Commerce Bank after signing a 24-month, 6 percent, promissory note. Aug. 31 FFL signed a 6-month contract to sublease a portion of its building. FFL also received a $12, 598 check for six sonths Dec. 3e ,FL paid employees, net pay through December 31, using direct deposits totaling $3.573, for 2sa total hours at rent wage. The company had withheld FICA of $275, United Hay contributions of $58, and Incone tax of $355. taxes (b) interest, and (c) rent. Book 17 hourly Dec. 31 FFL ad usted the accounts at year-end, relating to (o) erplayer payroll tas, tnclodine Fica and see of uramp loyeent Required: 1 Calculate the cost of goods sold on January 8, assuming FFL began the yeor with an inventory of 40 nutt $2 25 (590 total cost), had no other inventory transactions prior to January 6 and 2 For each of the above dates, prepare the required journal entries tusing a perpetual inven 8, and reports its inventory costs using FIFO tory system) and the adjusting journal Complete this question by entering your answers in the tabs below 1 of 14 Next >