Problem #1 Julia's Jams & Jellies, Inc. reported the following January 2019 transactions with respect to inventory item JJJMP SJ-2, a 2-gallon container of molto primo strawberry jam: Units Unit Cost Beginning inventory Jan 1 48.50 5-Jan Purchase on account 18 $ 49.00 7-Jan Sale on account 10-Jan Purchase on account 14 $ 51.00 15-Jan Sale on account 20-Jan Purchase 52.00 25-Jan Purchase on account Use the above information to calculate the following: Cost of goods available for sale Ending Inventory Value using FIFO periodic Cost of goods sold using FIFO periodic Ending Inventory Value using LIFO periodic Cost of goods sold using LIFO periodic Ending Inventory Value using Average Cost periodic Cost of goods sold using Average Cost periodic Ending Inventory Value using FIFO PERPETUAL Cost of goods sold using FIFO PERPETUAL Ending Inventory Value using LIFO PERPETUAL Cost of goods sold using LIFO PERPETUAL Gross Profit if all units JJJMPSJ-2 are sold at $80 per unit and LIFO PERPETUAL is used. 14 Prepare the journal entries for Jan. 5th through Jan 25th assuming LIFO perpetual is used Problem #1 Julia's Jams & Jellies, Inc. reported the following January 2019 transactions with respect to inventory item JJJMP SJ-2, a 2-gallon container of molto primo strawberry jam: Units Unit Cost Beginning inventory Jan 1 48.50 5-Jan Purchase on account 18 $ 49.00 7-Jan Sale on account 10-Jan Purchase on account 14 $ 51.00 15-Jan Sale on account 20-Jan Purchase 52.00 25-Jan Purchase on account Use the above information to calculate the following: Cost of goods available for sale Ending Inventory Value using FIFO periodic Cost of goods sold using FIFO periodic Ending Inventory Value using LIFO periodic Cost of goods sold using LIFO periodic Ending Inventory Value using Average Cost periodic Cost of goods sold using Average Cost periodic Ending Inventory Value using FIFO PERPETUAL Cost of goods sold using FIFO PERPETUAL Ending Inventory Value using LIFO PERPETUAL Cost of goods sold using LIFO PERPETUAL Gross Profit if all units JJJMPSJ-2 are sold at $80 per unit and LIFO PERPETUAL is used. 14 Prepare the journal entries for Jan. 5th through Jan 25th assuming LIFO perpetual is used