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The following inventory transactions apply to Green Company for Year 2. January 1 April 1 August 1 December 1 Purchased 250 units $10 Sold 125
The following inventory transactions apply to Green Company for Year 2. January 1 April 1 August 1 December 1 Purchased 250 units $10 Sold 125 units @ $20 Purchased 390 units $11 Sold 488 units @ $21 The beginning inventory consisted of 170 units at $11 per unit. All transactions are cash transactions. Required a. Record these transactions in general journal format assuming Green uses the FIFO cost flow assumption and keeps perpetual records. b. Compute cost of goods sold for Year 2
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