Practice Exercise 8-2 Blossom Company sells one product. Presented below is information for January for Blossom Company Nov. 1 Inventory 250 units at $8 each 5 10 15 21 30 Purchase Sale Purchase Sale Purchase 150 units at $9 each 340 units at $16 each 340 units at $8.50 each 350 units at $17 each 300 units at $8.80 each Blossom uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Blossom uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for November is 350 units. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the orderpresented in the problem.) Date Account Titles and Explanation Debit Credit