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Florist Gump, Inc., uses the FIFO method and had the following inventory activity for June: Beginning Inventory, June 1 Purchase, June 15 Sale, June 25

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Florist Gump, Inc., uses the FIFO method and had the following inventory activity for June: Beginning Inventory, June 1 Purchase, June 15 Sale, June 25 500 units @ $3 each 100 units @ $3.50 each 200 units @ $7 each Record the entry for the sale of inventory on account for June 25 Be sure to answer each: if no effect, select " No Effect". Assets A Ced 4 Canh - B Liabilities Debit Accounts Receivable and Debit Inventory C Shareholders' Equity Credit Sales and Debit Cost of Goods Sold D E. Debit Accounts Receivable and Credit Inventory Credit Accounts Receivable and Debit Sales F Dobit Sales and Credit Cost of Goods Sold G No Effect H Debit Accounts Payable and Credit Inventory

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