North Hills Inc. sells an Xpert snowshoe that is popular with snowshoe enthusiasts. The following information shows North Hills's purchases and sales of Xpert snowshoes during November: Date Explanation Units Unit Cost/Price Nov. 1 Beginning inventory 32 $297 5 Purchases 20 302 12 Sales (43) $484 19 Purchases 40 307 25 2222 Sales (45) 495 Purchases 33 312 37 (a1) - Your answer is partially correct. !! Prepare journal entries to record purchases (on account) and sales (cash) for North Hills in a perpetual inventory system using FIFO. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Nov. 5 Inventory Accounts Payable 12 12 Cash Sales (To record sales) 12 Cost of Goods Sold Inventory (To record the inventory sold) Debit 6040 20812 16998 Credit 6040 20812 16998 Inventory (To record the inventory sold) 19 Inventory 22 22 Accounts Payable Cash Sales (To record sales) 22 Cost of Goods Sold Inventory (To record the inventory sold) 25 Inventory Accounts Payable eTextbook and Media 12280 22275 15250 10296 16998 12280 22275 15250 10296