Sheridan Company uses a perpetual inventory system. The following information is available for November: Units Sales Price Nov. 1 8 Purchase Price $5.00 $5.50 $6.00 4 18 Balance Purchase Purchase Sale Sale 7 18 (8) 10 12 (28) $10.00 $10.00 Assume all sales and purchases are on credit. Prepare journal entries to record the November 4 purchase and the November 12 sale using FIFO. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Prepare journal entries to record the November 4 purchase and the November 12 sale using FIFO. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Debit Date Account Titles and Explanation Nov. 4 Credit (To record purchase on account.) Nov. 12 (To record sales on account.) Nov. 12 (To record cost of goods sold) Date Account Titles and Explanation Debit Credit Nov. 4 (To record purchase on account.) Nov. 12 (To record sales on account.) Nov. 12 (To record cost of goods sold)