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On January 15, 2015, Sports World sold 1,000 Ace-5 fishing reels to Anglers Warehouse. Immediately prior to this sale, Sports World perpetual inventory records for Ace-5 reels included the following cost layers:

Purchase Date	Quantity		Unit Cost			Total Cost
Dec. 12, 2014	600		$	29		$	17,400
Jan. 9, 2015	900			32			28,800
Total on hand	1,500					$	46,200

a.	Prepare a separate journal entry to record the cost of goods sold relating to the January 15 sale of 1,000 Ace-5 reels, assuming that Sports World uses: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
		1.Specific identification (500 of the units sold were purchased on December 12, and the remaining 500 were purchased on January 9).
	2.	Average cost.
	3.	FIFO.
	4.	LIFO. 1. Record cost of 1,000 Ace-5 reels sold to Angler's Warehouse. 2. Record cost of 1,000 Ace-5 reels sold to Angler's Warehouse. 3. Record cost of 1,000 Ace-5 reels sold to Angler's Warehouse. 4. Record cost of 1,000 Ace-5 reels sold to Angler's Warehouse. Transaction General Journal Debit Credit 1

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