View Policies Current Attempt in Progress Oriole Company uses a perpetual inventory system. The following information is available for November: Units Sales Price Nov. 1 4 Balance Purchase Purchase Sale Sale 7 10 12 Purchase Price $4.00 $4.50 $5.00 12 22 20 (12) (34) $8.06 $8.00 Assume all sales and purchases are on credit. Prepare journal entries to record the November 4 purchase and the November 12 sale using FIFO. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Dale Account Titles and Explanation Debit Credit Nov. 4 (To record purchase on account.) Nov. 12 (To record sales on account.) Nov. 12 (To record cost of goods sold.) List of Accounts Prepare journal entries to record the November 4 purchase and the November 12 sale using weighted average. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round the average cost per unit to three decimal places, eg. 5.275 and final answers to decimal places, eg. 5,275) Date Account Titles and Explanation Debit Credit Nov. 4 (To record purchase on account.) Nov. 12 (To record sales on account.) Nov. 12 (to record cost of goods sold.)