ces Required information E7-12 (Algo) Using FIFO for Multiproduct Inventory Transactions (Chapters 6 and 7) [LO 6-3, LO 6-4, LO 7- 3] [The following information applies to the questions displayed below.) FindMe Incorporated, (FI) has developed a coin-sized tracking tag that attaches to key rings, wallets, and other items and can be prompted to emit a signal using a smartphone app. Fl sells these tags, as well as water-resistant cases for the tags, with terms FOB shipping point. Assume FI has no inventory at the beginning of the month, and it has outsourced the production of its tags and cases. Fl uses FIFO and has entered into the following transactions: January 2 PI purchased and received 350 tage from Xioasi Manufacturing (XM) at a cost of $10 per tag, n/15.. January 4 FI purchased and received 150 cases from Bachittar Products (BP) at a cost of $3 per case, n/20. January 6 FI paid cash for the tags purchased from XM on January 2. January 8 FI mailed 250 tags via the U.S. Postal Service (USPS) to customers at a price of $28 per tag, on account. January 11 FI purchased and received 450 tags from XM at a cost of $13 per tag, n/15. January 14 FI purchased and received 250 cases from BP at a cost of $4 per case, n/20. January 16 FI paid cash for the cases purchased from BP on January 4. January 19 FI mailed 210 cases via the USPS to customers at a price of $10 per case, on account. January 21 FI mailed 350 tags to customers at a price of $28 per tag. Record the purchase of 350 tags. 2 Record the purchase of 150 cases. 3 Record the payment of cash. 4 Record the sale of 250 tags. 5 Record the cost of goods of the 250 tags sold. 6 Record the purchase of 450 tags. 7 Record the purchase of 250 cases. 8 Record the payment of cash. journal entry has been entered Note: Record entry Clear entry 5 Record the cost of goods of the 250 tags sold. 6 Record the purchase of 450 tags. Record the purchase of 250 cases. 8 Record the payment of cash. 9 Record the sale of 210 cases. 10 Record the cost of goods of the 210 cases sold. 11 Record the sale of 350 tags. 12 Record the cost of goods of the 350 tags sold. Note: = journal entry has been entered