Griffin Company's inventory records for its retail division show the following at December 31 (Click the icon to view the accounting records.) At December 31, 11 of these units are on hand Read the requirements Requirement 1. Journalize for Griffin total December purchases in one summary entry, under the perpetual system. All purchases were on credit. (Record debits first, then credits. Exclude explanations from any journal entries) Journal Entry Accounts Date Debit Credit Data Table Requirements Dec 1 Beginning Inventory units @ $165 $1,485 Dec 15 Purchase 5 units 5106 5830 Dec 26 Purchase 13 units 5175 52.276 Journalize the following for Griffin Company under the perpetual system 1. Total December purchases in one summary entry. All purchases were on credit 2. Total December sales and cost of goods sold in two summary entries. The Boling price was $600 per unit, and all sales were on credit. Assume that Griffin uses the FIFO inventory method 3. Under FIFO, how much gross profit would Grifin earn on for the month anding December 317 What is the FIFO cost of Griffin Company's ending inventory? Print Done Print Done Help Me Solve This DemoDogs Example Get More Help