with the sum of the two ehdingvetoy Dala Sam's Reliable Parts Company uses a LIFO Perpetual Inventory. Transaction List 2017 Year Jan 1, 2017 Purchases the following parts on Account Part Quantity Unit Cost Cost 400.00 8.00 50 9.00 360.00 Total cost 760.00 40 Feb 15 2017 Sold the following items on Account -Remember to record both sales and cost of goods sold. From the Inventory Records: calculate: Part Quantity Sales Price Total Cost of goods Sold Unit Sales 20.00 240.00 30.00 600.00 Total Sales 840.00 12 20 Dec 28, 2017 Purchases the following parts on Account Part Quantity Unit CostCost 11.00 220.00 20 14.00 56.00 Total cost 276.00 Took a Physical count of the inventory. The physical count revealed that for any shortage. Shortages come out of inventory and go into cost of Dec 31, 2017 there were 53 units of X, and 24 units of Y on hand. Make a journal entry Adjust the inventory records for any shortages. Adjust for Inventory shortages goods sold. Use the inventory records to determine cost of goods sold. Dec 31, 2017 From the Inventory Quantity Unit Records: caleulate: Cost Part Short Cost of goods sold Cost 6 3 24 Total cost 2018 Year March 18, 2018 Sold the following items on Account -Remember to record both sales and cost of goods sold From the Inventory Sales Records: calculate: Unit Sales PriceTotal Part Quantity Cost of goods Sold 20.00960.00 30.00 420.00 Total Sales 1,380.00 48 14 Iun 30 2018 llowi Part Quantity Unit Cost Cost 17.00 850.00 25.00 1,500.00 Total cost 2,350.00 50 60 Dec 15, 2018 Sold the following items on Account-Remember to record both sales and cost of goods sold From the Inventory Records: calculate: Cost of goods Sold Sales Part Quantity Sales Price Total Unit 25.00 1,000.00 35.00 1,750.00 Total Sales 2,750.00 40 50 Page 1 General Journal Date Account Title Ref Debit Credit Product X Purchases Inventory Cost of Units Sold eine Date Total Cost Details Unit Quantity ost Total Total Quantity Unit Cost Total Quantity