Helner Company maintains its internal inventory records using first-in, first-out (FIFO) under a perpetual inventory system. The following information relates to its inventory during the year: Feb. 1 Beginning inventory 20,000 units Mar. 12 Purchased 70,000 units for $12.70 each. May 30 Sold 50,000 units for $20.00 each. Aug. 22 Purchased 50,000 units for $12.90 each. Oct. 9 Sold 70,000 units for $20.00 each. Nov. 19 Purchased 40,000 units for $13.25 each. Dec. 31 Ending inventory 60,000 units.

5. Prepare the journal entry Precious Metals would record on April 1.

6. Prepare the journal entry Presious Metals would record on April 30.

7. Prepare the journal entry Precious Metals would record on June 1.