PerpFi Ltd buys and resells the inventory. The detailed information of beginning inventory and the transactions incurred during January is shown below.

Dates	Transactions	term of the contract	Quantity	Cost per unit	Selling price per unit
1st Jan.	Beginning inventory		100	$5.00
10th Jan.	Purchased inventory	3/7, n/30	100	$6.00
12th Jan.	Inventory purchased on 10th Jan. returned		10
14th Jan.	Sales of inventory	2/10, n/30	50		$20.00
16th Jan.	Paid supplier
20th Jan.	$1 Allowance granted to customers for each Inventory sold on 14th Jan.
22nd Jan.	Customer settled (paid) their account

Required: (please label your responses as 1.,2.)

1. Assuming perpetual inventory system is applied with First-in First-out (FIFO) cost flow, journalize transactions incurred during January without considering GST. (7/9)

2. Calculate the value of ending inventory at the end of January. (2/9)