to Rancho Landscaping. Immediately prior to this sale. California's perpetual inventory On January 15, 2001, California Irrigation sold 1.000 RainMaster-30 oscillating sprinkler for this sprinkler head included the following cost layers: Purchase Date Dec. 12, 2000 Jan. 9, 2001 Total on hand Quantity 600 900 1,500 Unit Cost $9.25 Total C 9.50 $14.10 Instructions Note: We present this problem in the normal sequence of the accounting cycle-that is entries before ledger entries. However, you may find it helpful to work part best, a. Prepare a separate journal entry to record the cost of goods sold relating to the Janua of 1,000 RainMaster-30 sprinkler heads, assuming that California Irrigation uses: 1. Specific identification (500 of the units sold were purchased on December 12, maining 500 were purchased on January 9). 2. Average cost. 3. FIFO. 4. LIFO. b. Complete a subsidiary ledger record for RainMaster-30 sprinkler heads using ca inventory valuation methods listed above. Your inventory records should show of this product, the sale on January 15, and the balance on hand at December and January 15, Use the formats for inventory subsidiary records illustrated on of this chapter. c. Refer to the cost of goods sold figures computed in part a. For financial rep can the company use the valuation method that resulted in the lowest cost of tax purposes, it used the method that resulted in the highest cost of goods s Problems 8.5 and 8.6 are based on the following data: SK Marine sells high rine equipment to power boat owners. Apollo Outboard recently introduced th horsepower outboard motor-the Apollo 400. During the current year. SK these motors-all intended for resale to customers-at the following dates an