Time left 0:55:36 Question 8 Not yet answered Marked out of 4.00 Flag question XYZ company prepares financial statements monthly and the company uses FIFO method under a perpetual inventory system. The begining inventory for the month of december was 2500 TL (2.500 units at unit cost of 1TL). Journalize the below transactions of XYZ company for the month of December. 1. Purchased 5000 units of inventory on account, FOB destination, at a unit cost of 1.5 TL per unit 2. Sold 4500 units of inventory on account to Customer A, FOB shipping point, for 3 TL per unit. The journal entry for item 2 involves a debit to for 13500 and a credit to for 5500 accounts receivable inventory cost of goods sold Cash