Tamworth Trading Ltd is a company operating in the retail sector. The beginning inventory of Product EF5089 and information about purchases and sales made during June are shown below.

View Policies Current Attempt in Progress Tamworth Trading Ltd is a company operating in the retail sector. The beginning inventory of Product EF5089 and information about purchases and sales made during June are shown below. June 1 Inventory 6,340 units @ $ 2.20 4. Purchases 4,780 units @ $ 2.20 9 Sales 4,260 units 12 Purchases 4,260 units @ $2.50 21 Sales 3,220 units 24 Sales 3,020 units 26 Purchases 3,220 units @ $ 2.20 30 Sales 2,700 units Tamworth Trading Ltd uses the perpetual inventory system, and all purchases and sales are on credit. Selling price is $5 per unit. GST is 10% and is not included in any of the costs and selling prices above. A stocktake on 30 June revealed 5,360 units in inventory. A. Using the FIFO method, prepare appropriate purchases and sales journals to record these events. (Round per unit cost to 2 decimal places, e.g. 5.27 and final answers to 0 decimal places, eg. 5,275.) Sales journal Post ref. Date Account Sales 9/6 units @ $ $ 21/6 units @ $ V 24/6 units @ $ 30/6 units @ $ Purchases journal Date Post ref. Account Inventory 4/6 units @ $ $ to search o Sales journal Sales GST payable Accounts receivable Cost of sales $ $ $ Purchases journal Date Account Post ref. Inventory 4/6 units @ $ v $ ch O Purchases journal Post ref. Date Account Inventory 4/6 units @ $ I 3 $ 12/6 U units @ $ 2 26/6 units @ $ ) Save for later Attempts: 0 of 1 used Submit Answer Type here to search A $ Purchases journal Post ref. Inventory GST receivable Accounts payable $ $ $ Save for Later Attempts: 0 of 1 used Submit Answer 4