View transaction list Journal entry worksheet Record the purchase of 130 cases. Note: Enter debits before credits. Date General Journal Debit Credit January 04 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the payment of cash. Note: Enter debits before credits. Date General Journal Debit Credit January 06 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the sale of 230 tags. Note: Enter debits before credits. Date General Journal Debit Credit January 08 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the cost of goods of the 230 tags sold. Note: Enter debits before credits. Date General Journal Debit Credit January 08 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the purchase of 430 tags. Note: Enter debits before credits. Date General Journal Debit Credit January 11 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the purchase of 230 cases. Note: Enter debits before credits. Date General Journal Debit Credit January 14 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the payment of cash. Note: Enter debits before credits. Date General Journal Debit Credit January 16 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the sale of 190 cases. Note: Enter debits before credits. Date General Journal Debit Credit January 19 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the cost of goods of the 190 cases sold. Note: Enter debits before credits. Date General Journal Debit Credit January 19 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the cost of goods of the 330 tags sold. Note: Enter debits before credits. Date General Journal Debit Credit January 21 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the cost of goods of the 330 tags sold. Note: Enter debits before credits. Date General Journal Debit Credit January 21 Record entry Clear entry View general journal Required information E7-12 (Algo) Using FIFO for Multiproduct Inventory Transactions (Chapters 6 and 7) (LO 6-3, LO 6-4, LO 7. 3] (The following information applies to the questions displayed below.] the tags, FindMe Incorporated, (FI) has developed a coin-sized tracking tag that attaches to key rings, wallets, and other items and can be prompted to emit a signal using a smartphone app. Fl sells these tags, as well as water-resistant cases with terms FOB shipping point. Assume Fl has no inventory at the beginning of the month, and it has outsourced the production of its tags and cases. Fl uses FIFO and has entered into the following transactions: January 2 FI purchased and received 330 tags from Xioasi Manufacturing (XM) at a cost of $11 per tag, n/15. January 4 FI purchased and received 130 cases from Bachittar Products (BP) at a cost of $2 per case, n/20. January 6 FI paid cash for the tags purchased from XM on January 2. January 8 FI mailed 230 tags via the U.S. Postal Service (USPS) to customers at a price of $34 per tag, on account. January 11 FI purchased and received 430 tags from XM at a cost of $14 per tag, n/15. January 14 FI purchased and received 230 cases from BP at a cost of $3 per case, n/20. January 16 FI paid cash for the cases purchased from BP on January 4. January 19 FI mailed 190 cases via the USPS to customers at a price of $11 per case, on account. January 21 FI mailed 330 tags to customers at a price of $34 per tag, on account. E7-12 (Algo)
