On December 1, 2020, Oriole Company had the account balances shown below. Debit Credit Cash $5,000 Accumulated Depreciation-Equipment $1,500 Accounts Receivable4,200 Accounts Payable 3,000 29,100 2,400* Owner's Capital 22,000 $33,600 Equipment $33,600 *(4,000 x $0.60) The following transactions occurred during December: Dec. 3 Purchased 3,800 units of inventory on account at a cost of $0.78 per unit. 5 Sold 4,200 units of inventory on account for $0.94 per unit. (Oriole sold 4,000 of the $0.60 units and 200 of the $0.78.) 7 Granted the December 5 customer $165 credit for 200 units of inventory returned costing $110. These units were returned to inventory. 17 Purchased 2,500 units of inventory for cash at $0.84 each. 22 Sold 3,100 units of inventory on account for $0.99 per unit. (Oriole sold 3,100 of the $0.78 units.) Adjustment data: 1. Accrued salaries payable $500. 2. Depreciation $200 per month ournalize the December transactions and adjusting entries, assuming Oriole uses the perpetual inventory method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record sales revenue.) To record cost of goods sold.) (To record sales returns.) To record cost of sales returns.) To record sales revenue.) To record cost of goods sold.) (To record accrued expense.) (To record depreciation expense.) Enter the December 1 balances in the ledger T-accounts and post the December transactions. (Post entries in the order of journal entries presented above.) Cash Accounts Receivable Inventory Equipment Accounts Payable Accumulated Depreciation-Equipment Salaries and Wages Payable Owner's Capital Sales Revenue Salaries and Wages Expense Cost of Goods Sold Sales Returns & Allowances Depreciation Expense ORIOLE COMPANY Adjusted Trial Balance Debit Credit Totals Prepare an income statement for December 2020 ORIOLE COMPANY Income Statement ORIOLE COMPANY Balance Sheet Assets Liabilities and Owner's Equity LINK TO TEXT Compute ending inventory and cost of goods sold under FIFO, assuming Oriole Company uses the periodic inventory system. Ending Inventory Cost of Goods Sold Compute ending inventory and cost of goods sold under LIFO, assuming Oriole Company uses the periodic inventory system Ending Inventory Cost of Goods Sold