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2 Check my work College Coasters is a San Diego-based merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1 witlook Cash 5.9,000 Accounts Receivable 1,940 Inventory 360 Prepaid Rent 540 Equipment 800 Accumulated Depreciation 110 Accounts Payable 1.450 Salaries and Wes Payable 300 Income Taxes Payable Common Stock 5,700 Retained Earnings 2.500 Sales Revenue 13,920 Cost of Goods Solo 7,120 Rent Expense 990 Salaries and Wages Expense 1.800 Depreciation Expense 110 Income Tax Expense 0 Office Expense 1.300 The company buys coasters from one supplier. All amounts in Accounts Payable or December 1ere oved to that supplies. The inventory on December 1 consisted of 900 coasters, all of which were purchased in batch on July 10 at a un cost o 50:40 College Coasters records its inventory using perpetual inventory accounts and the FIFO cost flow method During December, the company entered into the following transactions. Some of these transactions are explained in greater detall bol