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

Jan. $1$ Inventory $110$ units at $$5$ each

$4$ Sale $87$ units at $$8$ each

$11$ Purchase $156$ units at $$6$ each

$13$ Sale $126$ units at $$9$ each

$20$ Purchase $155$ units at $$6$ each

$27$ Sale $99$ units at $$10$ each

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

$($a$)$

Assume Metlock 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 $109$ 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