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The following inventory transactions apply to Green Company for Year 2. January 1 Purchased 270 units @ $9 April 1 Sold 135 units @ $16
The following inventory transactions apply to Green Company for Year 2.
| January 1 | Purchased 270 units @ $9 |
|---|---|
| April 1 | Sold 135 units @ $16 |
| August 1 | Purchased 410 units @ $10 |
| December 1 | Sold 513 units @ $17 |
The beginning inventory consisted of 195 units at $10 per unit. All transactions are cash transactions. Required
- Record these transactions in general journal format assuming Green uses the FIFO cost flow assumption and keeps perpetual records.
- Compute cost of goods sold for Year 2.
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