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Record events in Accounting Equation and Balance Sheet

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Question - Pam's Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 60 items at $350 ea. Company uses FIFO cost flow assumption and keeps perpetual inventory records.

Date: Mar. 5, Purchased 50 items @ $370 ea.

Date: Apr. 10, Sold 30 items @ $450 ea.

Date: June 19, Sold 60 items @ $450 ea.

Date: Sept. 16, Purchased 70 items @ $390 ea.

Date: Nov. 28, Sold 45 items @ $480 ea.

Record events in Accounting Equation, Balance Sheet, Income Statement, and Statement of Cash Flow.

Reference no: EM133114281

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