Assets Liabilities Shareholders' Equity

Stockit, Inc. uses the first-in. first-out method and had the tollowng inventory activity (or June: Beginning Inventory, June 1 urchase. June 15 sale, June 25 3,000 units @ SIO each 7,000 units @ $12 each 8.000 units @ $25 each Show the effect of the entry for the purchase of inventory on account (or June 15. Be sure to answer each; if no effect, select "0 No Effect". Assets v Liabilities v Shareholders' Equity A. O No Effect B. Credit Accounts Receivable 84,000 C. Debit cash 84,000 D. Credit Accounts payable 84 ,OOO E. Debit Inventory 84,000 F. Credit Cost of Goods sold 84,000 G Debit Accounts Payable 84,000 H Debit cost of Goods sold 84,000 l. Debit Accounts Receivable 84,000 Credit Accounts Receivable 84,000