Lynnfield Inc. Inventory records for a particular development program show the flowing utuly 31, 2020 (Click the icon to view the accounting records) Ally 31, 11 of these programs are on hand. Lynnfield uses the perpetual inventory system. Required 1. Journalize for Lynnfold Total July purchases in one summary entry. All purchases were on credit b. Total July sales and cost of goods sold in two summary entries. The selling price was 5575 per unit, and all were on credit Lyold the FIFO intory method 2. Under FIFO, how much gross profit would Lynfield eam on these transactions? What is the FF cost of your fields ending inventory? Requirementia. Joumalize for Lynfield's total July purchases in one summary entry. All purchases were on credit (Record debits first, then credite aplanations are not required Journal Entry Credo Debit Accounts Date Requirement 1b. Journaltz for Lynnfeld's total July sales and cost of goods sold in two summary or the weling profe$575 perust and later Lyder intory method (Denet yet record the cost related to the sale. We will do this in the next journal entry) Let's start by recording the entry for July sales Journal Entry Date Accounts Debit Choose from any list or enter any number in the input fields and then continue to the next question Lynnfield Inc. Inventory records for a particular development program show the flowing utuly 31, 2020 (Click the icon to view the accounting records) Ally 31, 11 of these programs are on hand. Lynnfield uses the perpetual inventory system. Required 1. Journalize for Lynnfold Total July purchases in one summary entry. All purchases were on credit b. Total July sales and cost of goods sold in two summary entries. The selling price was 5575 per unit, and all were on credit Lyold the FIFO intory method 2. Under FIFO, how much gross profit would Lynfield eam on these transactions? What is the FF cost of your fields ending inventory? Requirementia. Joumalize for Lynfield's total July purchases in one summary entry. All purchases were on credit (Record debits first, then credite aplanations are not required Journal Entry Credo Debit Accounts Date Requirement 1b. Journaltz for Lynnfeld's total July sales and cost of goods sold in two summary or the weling profe$575 perust and later Lyder intory method (Denet yet record the cost related to the sale. We will do this in the next journal entry) Let's start by recording the entry for July sales Journal Entry Date Accounts Debit Choose from any list or enter any number in the input fields and then continue to the next