The following inventory transactions apply to Green Company for Year 2. Purchased 260 units @ $50...

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The following inventory transactions apply to Green Company for Year 2. Purchased 260 units @ $50 Sold 130 units @ $85 January 1 April 1 August 1 December 1 Purchased 390 units @ $56 Sold 490 units @ $96 The beginning inventory consisted of 180 units at $48 per unit. All transactions are cash transactions. Required a. Record these transactions in general journal format assuming Green uses the FIFO cost flow assumption and keeps perpetual records. b. Compute cost of goods sold for Year 2. The following inventory transactions apply to Green Company for Year 2. Purchased 260 units @ $50 Sold 130 units @ $85 January 1 April 1 August 1 December 1 Purchased 390 units @ $56 Sold 490 units @ $96 The beginning inventory consisted of 180 units at $48 per unit. All transactions are cash transactions. Required a. Record these transactions in general journal format assuming Green uses the FIFO cost flow assumption and keeps perpetual records. b. Compute cost of goods sold for Year 2.