Thames Company's inventory records for its retal division show the following at August 31 Click the icon to view the accounting records) Al August 31 8 of these units are on hand Read the requirements Requirement 1. Joumatice for Thames total August purchases in one summary entry, under the perpetual system All purchases were on credit, Record debits first then credits Exclude explanations from any journal entries) Journal Entry Accounts Credit Date Debit - X 11 Requirements X Data Table Journalize the following for Thames Company under the perpetual system 1. Total August purchases in one summary entry. As purchases were on crede 2. Total August sales and cost of goods sold in two summary entries. The selling price was $S60 per unit and all sales were on credit Assume that Thames uses the FIFO inventory method 3. Under FIFO how much gross profit would Thames cam on for the month ending August 317 What is the FIFO cost of Thames Company's onding inventory Aug 1 Beginning inventory units $1653000 Aug 15 Purchase 5 units $1665830 Aug 26 Purchase uns $175 = $1575 Print Done Print Done