Splish Company sells one product. Presented below is information for January for Splish Company.

Jan. 1		Inventory		124	units at $4 each
4		Sale		100	units at $8 each
11		Purchase		162	units at $7 each
13		Sale		134	units at $9 each
20		Purchase		151	units at $7 each
27		Sale		96	units at $11 each

Splish uses the FIFO cost flow assumption. All purchases and sales are on account.

(a)

Assume Splish uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 107 units. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date Jan. 1Jan. 4Jan. 11Jan. 13Jan. 20Jan. 27Jan. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Jan. 4Jan. 11Jan. 13Jan. 20Jan. 27Jan. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Jan. 4Jan. 11Jan. 13Jan. 20Jan. 27Jan. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Jan. 4Jan. 11Jan. 13Jan. 20Jan. 27Jan. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Jan. 4Jan. 11Jan. 13Jan. 20Jan. 27Jan. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Jan. 4Jan. 11Jan. 13Jan. 20Jan. 27Jan. 31	enter an account title for the journal entry on January 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 31	enter a debit amount	enter a credit amount