Required information Problem 5-20A (Algo) Allocating product costs between cost of goods sold and ending inventory: intermittent purchases and sales of merchandise LO 5.1 [The following information applies to the questions displayed below] Pam's Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 250 items at $93 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records, Problem 5-20A (Algo) Part a Required a. Record the inventory transactions in general journal format. (If no entry is required for a transaction/event, select "No journal e required" in the first account field.) Required information Problem 5-20A (Algo) Allocating product costs between cost of goods sold and ending inventory: intermittent purchases and sales of merchandise LO 51 [The following information applies to the questions displayed befow] Pam's Creations had the following sales and purchase transactions during Year 2 Beginning inventory consisted of 250 items at $93 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. Problem 5-20A (Algo) Part b b. Calculate the gross margin Pam's Creations would report on the Year 2 income statement. Required information Problem 5.20A (Algo) Allocating product costs between cost of goods sold and ending inventory: intermittent purchases and sales of merchandise LO 51 [The following information applies to the questions displayed below] Pam's Creations had the following sales and purchase transactions during Year 2 . Beginning inventory consisted of 250 items at $93 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. roblem 5-20A (Algo) Part c Determine the ending inventory balance Pam's Creations would report on the December 31, Year 2. balance sheet