Overland Inc. starts buying and selling widgets this year. For each of the tabs, complete the journal entries for each date, and provide the appropriate amounts for each item listed below as of December 31.

You will also be required to use formulas for any totals and subtotals in your financial statements. The lack of formulas will result in a lower grade. Overland Inc. starts buying and selling widgets this year. For each of the tabs, complete the journal entries for each date, and provide the appropriate amounts for each item listed below as of December 31. Using a Perpetual FIFO system: Journal Entries Account Name Debit Credit 40,000 Purchase 1/15 Cash 40,000 1 January 15 - purchased 40 boxes of widgets at $100 per box in cash 2 February 19-sold for cash 30 boxes of widgets for $350 per box 3 April 3-purchased 50 boxes of widgets at $110 per box in cash 4 June 15 - sold 30 for cash boxes of widgets for $375 per box 5 September 4 - purchased 60 boxes of widgets for $125 per box in cash 6 October 5 - sold for cash 40 boxes of widgets for $380 per box 2/19 Ending Inventory Balance: Cost of Good Sold Balance: 4/3 LIIT Revenue: 6/15 Gross Profit: 9/4 10/5 You will also be required to use formulas for any totals and subtotals in your financial statements. The lack of formulas will result in a lower grade. Overland Inc. starts buying and selling widgets this year. For each of the tabs, complete the journal entries for each date, and provide the appropriate amounts for each item listed below as of December 31. Using a Perpetual LIFO system: Journal Entries Account Name Debit Credit 1/15 1 January 15 - purchased 40 boxes of widgets at $100 per box in cash 2 February 19-sold for cash 30 boxes of widgets for $350 per box 3 April 3 - purchased 50 boxes of widgets at $110 per box in cash 4 June 15-sold 30 for cash boxes of widgets for $375 per box 5 September 4 - purchased 60 boxes of widgets for $125 per box in cash 6 October 5-sold for cash 40 boxes of widgets for $380 per box 2/19 Ending Inventory Balance: Cost of Good Sold Balance: 4/3 Revenue: 6/15 Gross Profit 9/4 10/5 You will also be required to use formulas for any totals and subtotals in your financial statements. The lack of formulas will result in a lower grade. Overland Inc. starts buying and selling widgets this year. For each of the tabs, complete the journal entries for each date, and provide the appropriate amounts for each item listed below of December 31 Using a Periodic Average system: Journal Entries Account Name Debit Credit 1/15 1 January 15 - purchased 40 boxes of widgets at $100 per box in cash 2 February 19-sold for cash 30 boxes of widgets for $350 per box 3 April 3 - purchased 50 boxes of widgets at $110 per box in cash 4 June 15-sold 30 for cash boxes of widgets for $375 per box 5 September 4. purchased 60 boxes of widgets for $125 per box in cash 6 October 5 - sold for cash 40 boxes of widgets for $380 per box 2/19 Ending Inventory Balance: Cost of Good Sold Balance: 4/3 Revenue: 6/15 Gross Profit: 9/4 10/5 9