Whispering Company sells one product. Presented below is information for January for Whispering Company.

Whispering Company sells one product. Presented below is information for January for Whispering Company 119 units at $4 each 98 units at $8 each 141 units at $6 each 111 units at $9 each 160 units at $6 each Jan. 1 Inventory 4 Sale 11 Purchase 13 Sale 20 Purchase 27 Sale 95 units at $11 each Whispering uses the FIFO cost flow assumption. All purchases and sales are on account. Your answer is partially correct. Try again Assume Whispering 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 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 9 Date Account Titles and Explanation Debit Credit an ccounts Receivable ales Revenu an. 11 Purchase ccounts Pavabl an. 13 Accounts Receivable ales Revenu an. 20 Purchase ccounts Payable an. 27 TAccounts Receivable 04 ales Revenu 04 an. 31 TInvent ost of Goods Sold 2367 urchase Invento Attempts: 3 of 3 used Your answer is correct. Compute gross profit using the periodic system. Gross profit 124 2 Your answer is partially correct. Try again. Assume Whispering 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 an ccounts Receivable 760 sales 760 To record the sale) ost of Goods Sold To record the cost of inventory) an. 4 To record the sale) To record the cost of inventory) To record the sale) To record the cost of inventory)