Required information [The following information applies to the questions displayed below) The following information pertains to the inventory of Parvin Company during Year 2: Jan. 1 pr. 1 Oct. 1 Beginning Inventory Purchased Purchased 750 units $33 2,700 units e$ 38 950 units # $ 41 During Year 2, Parvin sold 4,000 units of inventory at $90 per unit and incurred $45,000 of operating expenses. Parvin currently uses the FIFO method but is considering a change to LIFO. All transactions are cash transactions. Assume a 30 percent Income tax rate, Parvin started the period with cash of $82,000, inventory of $24,750, common stock of $57,000, and retained earnings of $49,750. nces Required a. Record the above transactions in general Journal form and post to T-accounts using (1) RFO and (2) LIFO. Use a separate set of Journal entries and T-accounts for each method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) FIFO View transaction list Journal entry worksheet OK 1 2 3 5 > ances Record entry merchandise Inventory purchased for cash. Note: Enter debits before credits General Journal Date Apr 01 Dobit Credit Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record entry merchandise inventory purchased for cash. Note: Enter debits before credits Date General Journal Debit Credit Oct 01 Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record sale of inventory for cash. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record entry for operating expenses pald. ences Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal Journal entry worksheet