The following inventory transactions apply to Star Glass Company for 2013:

The beginning inventory consisted of 180 units at $10 per unit. All transactions are cash transactions.

Required
a. Record these transactions in general journal format assuming Star Glass Company uses the FIFO cost flow assumption and keeps perpetual records.
b. Compute the ending balance in the Inventoryaccount.

Transcribed Image Text:

Jan. Purchased 200 units S12 Apr. Sold Aug. 1 Purchased 300 units S15 Dec. 1 Sold 150 units S20 450 units @ $25