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Blue Company sells one product. Presented below is information for January for Blue Company. Jan. 1 Inventory 122 units at $4 each 4 Sale 101 units at $8 each 11 Purchase 164 units at $6 each 13 Sale 132 units at $9 each 20 Purchase 169 units at $6 each 27 Sale 106 units at $10 each Blue uses the FIFO cost flow assumption. All purchases and sales are on account.(a) Assume Blue 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 116 units. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit v v v