Marigold Company sells one product. Presented below is information for January for Marigold Company.

Jan. 1		Inventory		104	units at $5 each
4		Sale		79	units at $8 each
11		Purchase		145	units at $6 each
13		Sale		115	units at $9 each
20		Purchase		162	units at $6 each
27		Sale		107	units at $10 each

Marigold uses the FIFO cost flow assumption. All purchases and sales are on account.

Assume Marigold uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 110 units. (If no entry is required, select "No entry" for the account titles 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