Waterway Company sells one product. Presented below is information for January for Waterway Company. Jan. 1 Inventory 119 units at $4 each 4 Sale 98 units at $8 each 11 Purchase 141 units at $6 each 13 Sale 111 units at $9 each 20 Purchase 160 units at $6 each 27 Sale 95 units at $11 each Waterway uses the FIFO cost flow assumption. All purchases and sales are on account. (a) Your answer is partially correct. Assume Waterway uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 116 units. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Accounts Receivable 784 Sales Revenue 784 Inventory 846 Accounts Payable 846 Accounts Receivable 846 Sales Revenue 846 Inventory 999 Accounts Payable 999 Accounts Receivable 624 Sales Revenue 624 Inventory 960 960 Accounts Receivable 1045 Sales Revenue 1045