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[The following information applies to the questions displayed below.] Pams Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of
[The following information applies to the questions displayed below.] Pams Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 160 items at $84 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. Date Transaction Description Mar. 5 Purchased 140 items @ $ 94 Apr. 10 Sold 90 items @ $ 183 June 19 Sold 155 items @ $ 183 Sept. 16 Purchased 90 items @ $ 99 Nov. 28 Sold 80 items @ $ 188
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