Problems -6 problems worth 7 points each NOTE- show your work for partial credit otherwise wrong answers will be totally wrong and you get 0 points 25. Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: On January 14, Beech Soda, Inc. sold 25 units of this product. The other 28 units remained in inventory at January 31 Assuming that Beech Soda uses the FIFO flow assumption, what is the cost of goods sold to be recorded at January 14 ? 26. Prepare journal entries for the following 27. On September 1, 2011, Select Company borrowed $600,000 from a bank and signed a 12%, six-month note payable, with interest on the note due at maturity. What is the total amount of the current liability (including interest payable) for this loan that appears in Select Company's balance sheet at December 31, 2011