journal entries

11. April 21st, customers bought 15,000 garden gnomes for $148 per unit. The cost of goods sold is determined by the method of inventory valuation used by the company (Hint: Your company has beginning inventory). Customers paid the company 55% in cash and the remainder was on account. 12. On April 27nd the company purchased 9,250 units of inventory at a cost of $79 per unit. The company paid 70% in cash and purchased the remainder on account. 13. On April 29th the company paid $510,000 cash toward its accounts payable