Required information [The following information applies to the questions displayed below] Pam's Creations had the following sales and purchase transactions duting Year 2. Beginning inventory consisted of 150 items at $83 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. b. Calculate the gross margin Pam's Creations would report on the Year 2 income statement. Required information [The following information applies to the questions displayed bolow.] Pam's Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 150 items at $83 each. The company uses the FFO cost flow assumption and keeps perpetual inventory records. Determine the ending inventory balance Pam's Creations would teport on the December 31, Year 2, balance sheet. Required information [The following information applies to the questions displayed below] Pam's Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 150 items at $83 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. equired Record the inventory transactions in general journal format. (If no entry is required for a transaction/event, select "No journal entry equired in the first account field.)