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Prepare all necessary journal entries

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Question - Oriole Company sells one product. Presented below is information for January for Oriole Company.

Nov. 1 Inventory 290 units at $ 9 each

Nov. 5 Purchase 180 units at $ 10 each

Nov. 10 Sale 380 units at $ 20 each

Nov. 15 Purchase 380 units at $ 9.50 each

Nov. 21 Sale 420 units at $ 21 each

Nov. 30 Purchase 330 units at $ 9.80 each

Oriole uses the FIFO cost flow assumption. All purchases and sales are on account.

Assume Oriole uses a perpetual system. Prepare all necessary journal entries.

Reference no: EM133065629

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