Complete a work sheet with the adjusting journal entries based on the information given. Adjusting and paying accrued expenses such as interest expense, supplies, prepaid insurance, prepaid rent, and salaries Preparing closing entries from the ledger Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification The company uses a periodic inventory system, compute the ending inventory and cost of goods sold using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification Analyzing transactions and preparing journal entries Prepare financial statements, income statement, statement of owners equity and balance sheet Prepare a classified balance sheet Recording sales, purchases, shipping, and returns-buyer and seller