Swifty Company sells one product. Presented below is information for January for Swifty Company. Swifty uses the FIFO cost flow assumption. All purchases and sales are on account. 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.) (b) Your answer is correct. Compute gross profit using the periodic system. Gross profit \$ eTextbook and Media List of Accounts Attempts: 1 of 4 used Assume Swifty uses a perpetual system. Prepare all necessary journal entries. (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 \begin{tabular}{l} Date Account Titles and Explanation \\ \begin{tabular}{|l|} \hline Jan. 4v \end{tabular} \\ \hline \end{tabular} (To record the sale) (To record the cost of inventory) Jan. 11 Jan. 13v (To record the sale) (To record the cost of inventory) Jan. 20 Jan. 27 (To record the sale) Jan. 27 (To record the sale) (To record the cost of inventory) Swifty Company sells one product. Presented below is information for January for Swifty Company. Swifty uses the FIFO cost flow assumption. All purchases and sales are on account. 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.) (b) Your answer is correct. Compute gross profit using the periodic system. Gross profit \$ eTextbook and Media List of Accounts Attempts: 1 of 4 used Assume Swifty uses a perpetual system. Prepare all necessary journal entries. (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 \begin{tabular}{l} Date Account Titles and Explanation \\ \begin{tabular}{|l|} \hline Jan. 4v \end{tabular} \\ \hline \end{tabular} (To record the sale) (To record the cost of inventory) Jan. 11 Jan. 13v (To record the sale) (To record the cost of inventory) Jan. 20 Jan. 27 (To record the sale) Jan. 27 (To record the sale) (To record the cost of inventory)