The company has three inventory items: desk lamps, table lamps, and floor lamps. DLC uses a perpetual inventory system, FIFO method. DLC owns land with a building, which is separated into two parts: office space and warehouse space. All expenses associated with the office are categorized as Administrative Expenses. All expenses associated with the warehouse, which is used for the shipping and receiving functions of the company, are categorized as Selling Expenses. In addition to the land and building, DLC also owns office furniture and equipment and warehouse fixtures. The company uses one accumulated depreciation account for all the depreciable assets. Now journalize the expense related to the Oct. 12 sale-Sold 5,500 table lamps on account. Review the perpetual record for table lamps you prepared above. Date Accounts and Explanation Debit Oct. 12 Credit Reference Table lamps: Purchases Unit Cost Total Cost of Goods Sold Unit Total Quantity Cost Cost Quantity Cost Date Sep. 30 Inventory on Hand Unit Total Quantity Cost Cost 2,500 $ 22 $ 55,000 2,500 $ 22$ 55,000 7,000 $ 24 $ 168,000 4,000 $ 24 $ 96,000 Oct. 1 7,000 $ 24 $ 168,000 12 2,500 $ 3,000 $ 1,500 $ 22 $ 55,000 24 $ 72,000 28 24 $ 36,000 2,500 $ 24 $ 60,000 Nov. 5 9,500 $ 26 $ 247,000 2,500 $ 9,500 $ 18 2,300 $ 24 $ 55,2001 200 $ 24 $ 60,000 26 $ 247,000 24 $ 4,800 26 $ 247,000 26 $ 130,000 9,500 $ 5,000 $ Dec. 27 200 $ 24/$ 4,800 26 $ 117,000 4,500 $ 31 3 9 $ 26/$ 234 4,991 $ 26 $ 129,766 $ 415,000 $ 340,234| $ 129,766 Totals 16,500 14,009 4,991 Accounts Payable Accounts ReceivablePrime Accounts ReceivableValdosta Accounts ReceivableSkyway Accounts ReceivableMorgan Accounts ReceivableMarket Accumulated Depreciation Building Cash Cost of Goods Sold Daggs, Capital Daggs, Withdrawals Depreciation Expense-Administrative Depreciation Expense-Selling Land Merchandise Inventory Office Furniture and Equipment Office Supplies Salaries Expense-Administrative Salaries Expense-Selling Sales Revenue Supplies Expense-Administrative Supplies Expense-Selling Utilities Expense-Administrative Utilities Expense-Selling Warehouse Fixtures Warehouse Supplies Adjustment for inventory shrinkage. Collected cash on account. Paid amount due on account. Paid cash expenses. Purchased inventory on account. Recorded the cost of goods sold. Sales on account