A company that uses a perpetual inventory system made the following cash purchases and sales.There was no beginning inventory.
Prepare general journal entries to record the March 16 sale using the FIFO inventory valuation method.

Question

A company that uses a perpetual inventory system made the following cash purchases and sales.There was no beginning inventory.
  Prepare general journal entries to record the March 16 sale using the FIFO inventory valuation method.

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The Answer of A company that uses a perpetual inventory system made the following cash purchases and sales.There was no beginning inventory.
  Prepare general journal entries to record the March 16 sale using the FIFO inventory valuation method.

A Company That Uses a Perpetual Inventory System Made the Following