Make the appropriate journal entries for march

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Question - The inventory records of Thimble Company show the following:

Mar. 1 Beginning inventory consists of 10 units costing $40 per unit.

3 Sold 5 units at $94 per unit.

10 Purchased 16 units at $48 per unit.

12 Sold 8 units at $96 per unit.

20 Sold 7 units at $96 per unit.

25 Purchased 16 units at $50 per unit.

31 Sold 8 units at $96 per unit.

Assume all purchases and sales are made on credit.

Using the FIFO perpetual inventory procedure, make the appropriate journal entries for March.

Reference no: EM131692268

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