Johnson Corporation began 2018 with inventory of 10,000 units of its only product. The units cost $8 each. The company uses a periodic inventory system and the LIFO cost method. The following transactions occurred during 2018:

a) Purchased 50,000 additional units at a cost of $10.00 per unit. Terms of the purchases were 2/10, n/30, and 100% of the retained purchases were paid for within the 10 day discount period. The company uses the gross method to record purchase discounts. The merchandise was purchased f.o.b. shipping point and freight charges of $.50 per unit were paid in cash by Johnson

b) 1000 units purchased during the year were returned to suppliers for credit. Johnson was also given credit for the freight charges of $0.50 per unit it had paid on the original purchase. The units were defective and were returned two days after they were received.

c) sales for the year totaled 130,000 units at $18 per unit.

d) On December 28, 2018, Johnson purchased 6,700 additional units at $10 each. The goods were shipped f.o.b. destination and arrived at Johnson's warehouse on January 4, 2019

e) 29,300 units were on hand at the end of 2018.

Prepare the necessary journal entries to record each of the above transaction

Prepare the necessary journal entry to record cost of goods sold for 2018