Pams Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 280 items at $96 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records.

Date	Transaction	Description
Mar. 5	Purchased	260 items @	$	106
Apr. 10	Sold	150 items @	$	207
June 19	Sold	275 items @	$	207
Sept. 16	Purchased	210 items @	$	111
Nov. 28	Sold	140 items @	$	212

Required a. Record the inventory transactions in general journal format.

b. Calculate the gross margin Pams Creations would report on the Year 2 income statement.

c. Determine the ending inventory balance Pams Creations would report on the December 31, Year 2, balance sheet.