Robo-Pool is a lean manufacturer of robotic pool vacuums. Each unit requires $225 of raw materials and $375 of conversion costs and is sold for $700. During a recent month the company produced 120 units and sold 100 units. Use lean accounting to prepare journal entries to record each of the following. 1. Purchase of raw materials on credit. 2. Applied conversion costs to production. 3. Sold 100 units on credit. 4. Record ending inventory and cost of goods sold. Answer is complete but not entirely correct. No Transaction General Journal A 1 Work in process inventory Accounts payable B 2 3 Work in process inventory Conversion costs Accounts receivable Sales Debit Credit 27,000 27,000 45,000 45,000 70,000 70,000 D 4 Finished goods inventory 12,000 Cost of goods sold 72,000 Work in process inventory 60,000