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		7,320		units @ $1.90
	4		Purchases		5,520		units @ $2.15
	9		Sales		4,920		units
	12		Purchases		4,920		units @ $2.40
	21		Sales		3,720		units
	24		Sales		3,480		units
	26		Purchases		3,720		units @ $2.50
	30		Sales		3,120		units

Tamworth Trading Ltd uses the perpetual inventory system, and all purchases and sales are on credit. Selling price is $6 per unit. GST is 10% and is not included in any of the costs and selling prices above. A stocktake on 30 June revealed 6,180 units in inventory.

Using the FIFO method, prepare appropriate purchases and sales journals to record these events.

Sales journal

Date

Account

Post ref.

Sales

GST payable

Accounts receivable

Cost of sales

9/6

( units @ $ )

$

$

$

$

21/6

( units @ $ )

24/6

( units @ $ )

30/6

( units @ $ )

$

$

$

$

Purchases journal
Date		Account		Post ref.		Inventory		GST receivable		Accounts payable
4/6		( units @ $ )				$		$		$
12/6		( units @ $ )
26/6		( units @ $ )
						$		$		$

Prepare an appropriate inventory record for Product EF5089 for June, and post the journals prepared in requirement A above to the appropriate general ledger accounts (assuming that product EF5089 is the only product bought and sold by Tamworth Trading Ltd.

Prepare an income statement for Tamworth Trading Ltd for June. (Round answers to 0 decimal places, e.g. 5,275.)