January 1 Beginning inventory 240 units @ $2 = $ 480 January 3 Sales 142 units @ $ 8 February 14 Purchase 390 units $ @ $3 = 1,170 February 15 Sales 260 units @ $ 8 June 30 Purchase $ 290 units @ $4 = 1,160 November 6 November 19 Sales 236 units @ $ 8 Purchase 100 units @ $5 - Totals $ 500 $ 1,020 units 638 units 3,310 Record journal entries for Tree Seedlings' sales and purchases transactions. Assume for this assignment that the company uses perpetual inventory system and LIFO. All sales and purchases are made on account, and no discounts are offered. View transaction list View journal entry worksheet No Date General Journal 1 January 03 Accounts receivable Sales 2 January 03 Cost of goods sold Merchandise inventory 3 February 14 Merchandise inventory Accounts payable 4 February 15 Accounts receivable Sales 5 February 15 Cost of goods sold Merchandise inventory 6 June 30 Merchandise inventory Debit Credit X