Yoshi Inc, sells hats and accounts for its inventory using FIFO with a perpetual system. At the beginning of January, the company has hat inventory $2,000 ( $20 x 100). Jan. 7 Purchased on account 240 hats for $25 each with terms of 3/10./30. Jan. 8 Paid $230 cash for shipping associated with the Jan 7th purchase. Jan. 10 Retumed 40 defective hats from Jan 7th purchase receiving a credit of $25 for each hat Jan. 16 Makes full payment for inventory purchased on Jan, 7th. Jan. 20 Sells 300 hats to Mario on account for $15,000 ($50 each), Record the Jan 16 transaction: Debit Credit Jan. 16 Select Select Select Select Select Select >