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The following inventory transactions apply to Green Company for Year 2: Jan. 1 Purchased 290 units @ $ 10 Apr. 1 Sold 145 units @

The following inventory transactions apply to Green Company for Year 2:

Jan. 1 Purchased 290 units @ $ 10
Apr. 1 Sold 145 units @ $ 20
Aug. 1 Purchased 440 units @ $ 11
Dec. 1 Sold 550 units @ $ 21

The beginning inventory consisted of 175 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) image text in transcribedimage text in transcribed

image text in transcribed

1 Record entry inventory purchased for cash 2 Record sale of inventory for cash. 3 Record entry for cost of goods sold. 4 Record entry inventory purchased for cash. 5 Record sale of inventory for cash. 6 Record entry for cost of goods sold

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