On January 22, 2011 Dome. Inc, sold 700 toner cartridges to Maxine Supplies. Immediately prior to this sale, Dome's perpetual inventory records for these units included the following cost layers:

Purchase Date	Quantity	Unit Cost	Total Cost
Dec. 12, 2010	400	$20	$8,000
Jan. 16, 2011	1,200	22	26,400
Total on Hand	1,600		34,400

Note: We present this problem in the normal sequence of the accounting cycle-that is, journal entries before ledger entries. However, you may find it helpful to make a subisidiary ledger. SHOW ALL WORK

a. Prepare a separate journal entry to record the cost of goods sold relating to the January 22 sale of 700 toner cartridges, assuming that Dome uses:

1. Specific identification (300 of the units sold were purchased on December 12, and the remaining 400 had been purchased on January 16)

2. Average Cost.

3. FIFO.

4. LIFO.

b. Complete a subisiary ledger record fro Ace-5 reels using each of the four inventory valuation methods listed above. Your inventory record should show both purchase of this product, the sale on January 22, and the balance on hand at December 12, January 16, and January 22. Show work.