Make sure to do the General journal as well. This is FIFO

1.(30 Points) Complete the inventory subsidiary schedule using the FIFO cost flow assumption and perpetual inventory system, using the information given below, and then prepare the journal entries for each date. August 1: Beginning inventory consisted of 100 units at a cost of $10 per unit. August 5: Purchased 40 units at a cost of $12 per unit; the company paid cash. August 10: Sold 60 units, sales price of $20 per unit, to ABC company. The sales terms were 2/10, n/30. August 15: Purchased 70 units at a cost of $13 per unit. The payment terms were net 30. August 20: Received payment from ABC company August 25: Sold 50 units for cash, sales price of $25 per unit DATEPURCHASES SOLD BALANCE