Cousins Company had the following transactions for the month of January: 
Assume that Cousins uses the perpetual inventory method and that all transactions were for cash.
Required:
a) Prepare journal entries for the above transactions using the FIFO cost flow method.
b) Determine the amount of ending inventory using the FIFO cost flow method.
Definitions:
Collaboration
The action of working with someone to produce or create something.
Nonverbal Communication
A form of communication that involves the transmission of messages without the use of words, using body language, facial expressions, gestures, posture, and tone of voice instead.
Connotative Meaning
The emotional and cultural associations attached to a word or phrase, beyond its literal dictionary definition.
Choice of Clothing
The decisions individuals make regarding their attire, which can reflect personal style, cultural practices, social status, and functional needs.
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