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Journalise cricket central inventory transactions

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Question - Cricket Central carries an inventory of Cricket Balls and Cricket Bats. Cricket Central uses the FIFO method and a perpetual inventory system. The sales price of each Cricket Bat is $145. Business records indicate the following for a particular line of Cricket Central's Cricket Bats:

Date

1/7/19 Cricket Central had 22 Cricket Bats on hand costing $85 each

8/7/19 Sold 9 Cricket Bats to the local cricket team.

11/7/19 Purchased 25 new Cricket Bats for $95 each.

20/7/19 Sold a further 20 Cricket Bats to a retailer.

29/7/19 Sold 8 more Cricket Bats to The Australian Cricket Team.

Required - Journalise Cricket Central's inventory transactions using the FIFO method.

Reference no: EM133179577

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