What are the journal entries for the below transactions and what are the adjusting journal entries.

Finished Goods inventory purchased from suppliers on account.

2/10/20XX 10,000 units @ $26 each

6/12/20XX 15,000 units @ $28 each

10/23/20XX 12,000 units @ $29 each

11/25/20XX 8,000 units @ $30 each

Bob's Bacon House Inc. uses periodic inventory system and LIFO costing method. All purchases and sales are made on account.

Payments made to suppliers on account during 20XX are $1,124,450.

Sales made to customers on account are 49,356 units @ $36 each.

Cash collected from customers during 20XX is $1,750,700.

Total interest paid on notes payable and bonds payable amounted to $17,415.

Rental income on property leased out is $25,650.

Bob's Bacon House Inc. was operating a retail store in Chicago. Original cost of building and equipment was $120,000 with a book value of $95,000. During 20XX, New York Traders disposed of this store at a loss of $35,800.

Bob's Bacon House Inc. wants to make an allowance for doubtful debts at 2% on accounts receivable for the year 20XX.

Selling and administrative expenses are $128,475. These expenses include $56,000 depreciation expense on building and equipment but exclude bad debts expenses.

Income tax expense paid is $90,500. Bob's Bacon House income tax rate for 20XX is 30%.