for question 4 the journal entrys are for

1.jan 24

2.jan 24

3.feb 08

4.march 16

5.march 16

6.june 11

P7-3 Comparing and Contrasting the Effects of Inventory Costing Methods on Financial Statement Elements L07-2, 7-3 Neverstop Corporation sells item A as part of its product line Information about the beginning inventory, purchases, and sales of item A are given in the following table for the first six months of the current year. The company uses a perpetual inventory system Purchases Number of Units Unit Cost 595 $4.40 Date January 1 (breinning inventory January 24 February 8 March 16 June 11 Sales Number of Units Sales Price 395 $5.90 695 $4.50 395 $5.90 605 $4.50 Required: 1 Compute the cost of ending inventory by using the weighted average costing method. (Do not round Intermediate calculations and round the final answer to 2 decimal places.) Cndo ventory 2. Compute the gross profit for the first six months of the current year by using the FIFO coating method (Do not round intermediate calculations and round the final anwwer to 2 decimal places) Crossro 3. Would the gross profit be higher lower or the same it Neverstop used the weighted-average costing method rather than the FIFO method? Remain the same Lower O Higher 4. Prepare journal entries to record the purchase and sale transactions, as well as the cost of sales, assuming that all sales and purchase transactions are on account and that the weighted-average method is used. (Do not round intermediate calculations and round the final answers to 2 decimal places. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet