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Larkspur Company sells one product. Presented below is information for January for Larkspur Company Jan. 1 Inventory 4 Sale 11 13 Sale 20 27 Sale
Larkspur Company sells one product. Presented below is information for January for Larkspur Company Jan. 1 Inventory 4 Sale 11 13 Sale 20 27 Sale 107 units at $5 each 84 units at $8 each 146 units at $6 each 118 units at $9 each 153 units at $7 each Purchase Purchase 89 units at $10 each Larkspur uses the FIFO cost flow assumption. All purchases and sales are on account system. Prepare all necessery journal entries. (tt no entry is required, select "No entry" for the account tibles and enter 0 for the amounts. Credit account titles are automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit 4Accounts Receivable Sales Revenue To record the sale) of Goods Sold To necord the cost of Inventon) Jan. 11inventony Accounts Payable Jan. 13 Sales Revenue (To record the sale) of Goods Soid (To recond the cost of inventory) Jan. 20 Sales Revenue (To record the sale) of Goods Sold To necord the cost of inventory)
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