The following inventory transactions apply to TNT Company for 2011. The beginning inventory consisted of 175 units

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The following inventory transactions apply to TNT Company for 2011.
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The beginning inventory consisted of 175 units at \(\$ 11\) per unit. All transactions are cash transactions.

Required

a. Record these transactions in general journal format assuming TNT uses the FIFO cost flow assumption and keeps perpetual records.

b. Compute the ending balance in the Inventory account.

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