please work on this ASAP the assignment is timed thank you! also show work

C10-1 (Algo) Recording Journal Entries and Adjusting Journal Entries Affecting Inventories and Current Liabilities (Chapters 6, 7, and 10) [LO 6-3, LO 6-4, LO 7-3, LO 10-2] Fit for Life (FFL) operates a fitness center and snack lounge. The following is a partial list of FFL transactions during its year ended December 31. FFL adjusts its records only at year-end. January 6 Purchased and-received 40 nutritional bars for $76,n/45. January 8FFL sold 50 nutritional bars to 819 Jin for $294 cash, which includes $27 of sales tax. April 30FFL received $55,300 from Connerce Bank after signing a 24 -month, 6 percent, prosissory note. August 31FFL signed a 6-month contract to sublease a portion of its building. FFL also received a $12,960 check for six months' rent. December 30FFL paid employees: net pay through December 31 , using direct deposits totaling 53,570 , for 250 total hours at a $17 hourly wage. The conpany had withheld FICA of $275, United Way contributions of $50, and incore tax of $355. December 31FFL adjusted the accounts at year-end, relating to (a) eoptoyer payroll taxes, including fiCA and 560 of unemployment taxes, (b) interest, and (c) rent. Required: 1. Calculate the cost of goods sold on January 8 , assuming FFL began the year with an inventory of 40 nutritional bars at a unit cost of $2.25 ( $90 total cost), had no other inventory transactions prior to January 6 and 8 , and reports its inventory costs using FIFO. 2. For each of the above dates, prepare the required journal entries (using a perpetual inventory system) and the adjusting journal entries. Required: 1. Calculate the cost of goods sold on January 8 , assuming FFL began the year with an inventory of 40 nutritional bars at a unit cost of $2.25 ( $90 total cost), had no other inventory transactions prior to January 6 and 8 , and reports its inventory costs using FiFO. 2. For each of the above dates, prepare the required journal entries (using a perpetual inventory system) and the adjusting journal entries. Complete this question by entering your answers in the tabs below. Calculate the cost of goods sold on January 8 , assuming FFL began the year with an inventory of 40 nutritional bars at a unit cost of $2.25 ( $90 total cost), had no other inventory transactions prior to January 6 and 8 , and reports its inventory costs using FIFO. (Do not round intermediate calculations.) Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet 456 Record the sales revenue and sales tax payable. Note: Enter debits before credits. Journal entry worksheet 1 4 Journal entry worksheet 67 Record the signing of the promissory note on April 30. Note: Enter debits before credits. Journal entry worksheet