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[ The following information applies to the questions displayed below. ] Tree Seedlings has the following current - year purchases and sales for its only
The following information applies to the questions displayed below.
Tree Seedlings has the following currentyear purchases and sales for its only product.
Date Activities Units Acquired at Cost Units Sold at Retail
January Beginning inventory units @ $ $
January Sales units @ $
February Purchase units @ $ $
February Sales units @ $
June Purchase units @ $ $
November Sales units @ $
November Purchase units @ $ $
Totals units $ units
Record journal entries for Tree Seedlings sales and purchases transactions. Assume for this assignment that the company uses a perpetual inventory system and LIFO. All sales and purchases are made on account, and no discounts are offered.
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