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Having trouble with T-account question.
The following transactions occurred during January, the first month of operations for Ruby Corporation. Prepare journal entries and prepare a T-account for inventory that includes the following five transactions. (Hint: When inventory is sold, it should be expensed to a Cost of Goods Sold expense account.)
1. Purchased $950 of inventory on account.
2. Purchased $1,800 of inventory on account.
3. Sold inventory with an original cost of $450.
4. Purchased $1,100 of inventory on account.
5. Sold inventory with an original cost of $1,500.
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