WaterwayCompany sells one product. Presented below is information for January forWaterwayCompany.

Jan. 1Inventory119units at $4each4Sale98units at $8each11Purchase141units at $6each13Sale111units at $9each20Purchase160units at $6each27Sale95units at $11each

Waterwayuses the FIFO cost flow assumption. All purchases and sales are on account.

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 ow assumption. All purchases and sales are on account. Assume Waterway uses a perpetual system. Prepare all necessary journal entries. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 4 Accounts Receivable 784 Sales Revenue l 784 (To record the sale) Cost of Goods Sold 392 Inventory l 392 (To record the cost of inventory) Jan. 11 Inventory 846 Accounts Payable l 846 Jan. 13 9 Accounts Receivable 999 Sales Revenue 999 (To record the sale) Cost of Goods Sold Inventory (To record the cost of inventory) l Jan. 11 9] Inventory 846 Accounts Payable l 846 [ Jan. 13 3] Accounts Receivable 999 Sales Revenue l 999 (To record the sale) Cost of Goods Sold Inventory (To record the cost of inventory) Inventory 960 Accounts Payable l 960 [ Jan. 27 6] Accounts Receivable 1045 Sales Revenue l 1045 (To record the sale) Cost of Goods Sold Inventory (To record the cost of inventory)