Question
Required information [The following information applies to the questions displayed below.] Pams Creations had the following sales and purchase transactions during Year 2. Beginning inventory
Required information [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 270 items at $95 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records.
Date Transaction Description Mar. 5 Purchased 250 items @ $ 105
Apr. 10 Sold 145 items @ $ 205 June 19 Sold 265 items @ $ 205
Sept. 16 Purchased 200 items @ $ 110
Nov. 28 Sold 135 items @ $ 210
Required
a. Record the inventory transactions in general journal format
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