Problem 5-20A (Algo) Allocating product costs between cost of goods sold and ending inventory: intermittent purchases and sales of merchandise LO 5-1 Skip to question [The following information applies to the questions displayed below.] Pams Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 230 items at $99 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records.

Date Transaction Description March 5 Purchased 290 items @ $109 April 10 Sold 165 items @ $213 June 19 Sold 305 items @ $213 September 16 Purchased 240 items @ $114 November 28 Sold 155 items @ $218 1Record purchase of inventory for cash. 2Record sale of inventory for cash. 3Record entry for cost of goods sold. 4Record sale of inventory for cash. 5Record entry for cost of goods sold. 6Record purchase of inventory for cash. 7Record sale of inventory for cash. 8Record entry for cost of goods sold. Note : = journal entry has been entered

a. Record the inventory transactions in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)