Pams Creations had the following sales and purchase transactions during 2016. Beginning inventory consisted of 270 items at $95 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records.

Date Transaction Description Mar. 5 Purchased 250 items @ $ 105 Apr. 10 Sold 145 items @ $ 205 June 19 Sold 155 items @ $ 205 Sept. 16 Purchased 200 items @ $ 110 Nov. 28 Sold 135 items @ $ 210

a. Record the inventory transactions in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b. Calculate the gross margin Pams Creations would report on the 2016 income statement.

c. Determine the ending inventory balance Pams Creations would report on the December 31, 2016,