View Policies Current Attempt in Progress Tamworth Trading Ltd is a company operating in the retail sector. The beginning inventory of Product EF5089 and information about purchases and sales made during June are shown below. June 1 Inventory 6,340 units @ $ 2.20 4. Purchases 4,780 units @ $ 2.20 9 Sales 4,260 units 12 Purchases 4,260 units @ $2.50 21 Sales 3,220 units 24 Sales 3,020 units 26 Purchases 3,220 units @ $ 2.20 30 Sales 2,700 units Tamworth Trading Ltd uses the perpetual inventory system, and all purchases and sales are on credit. Selling price is $5 per unit. GST is 10% and is not included in any of the costs and selling prices above. A stocktake on 30 June revealed 5,360 units in inventory. A. Using the FIFO method, prepare appropriate purchases and sales journals to record these events. (Round per unit cost to 2 decimal places, e.g. 5.27 and final answers to 0 decimal places, eg. 5,275.) Sales journal Post ref. Date Account Sales 9/6 units @ $ $ 21/6 units @ $ V 24/6 units @ $ 30/6 units @ $ Purchases journal Date Post ref. Account Inventory 4/6 units @ $ $ to search o Sales journal Sales GST payable Accounts receivable Cost of sales $ $ $ Purchases journal Date Account Post ref. Inventory 4/6 units @ $ v $ ch O Purchases journal Post ref. Date Account Inventory 4/6 units @ $ I 3 $ 12/6 U units @ $ 2 26/6 units @ $ ) Save for later Attempts: 0 of 1 used Submit Answer Type here to search A $ Purchases journal Post ref. Inventory GST receivable Accounts payable $ $ $ Save for Later Attempts: 0 of 1 used Submit Answer 4