The following transactions occurred for the month of May. 

 Date	 Â		Units	Cost	Total	Sales Price
1-May	Beginning Balance		85	14	$1,190	Â
2-May	PurchaseÂ		65	11	$715	Â
3-May	PurchaseÂ		75	16	$1,200	Â
10-May	SaleÂ		95	Â	Â	$30
15-May	PurchaseÂ		40	18	$720	Â
17-May	SaleÂ		45	Â	Â	$30
30-May	SaleÂ		95	Â	Â	$30

 

Using the FIFO method, prepare the required journal entries for each transaction assuming all purchases and sales are made on credit.

Journal

Date	Description	Debit	Credit
May 2
May 2
May 3
May 3
May 10
May 10
May 15
May 15
May 17
May 17
May 30
May 30