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Pam's Creations had the following sales and purchase transactions during Year 2 . Beginning inventory...

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Accounting

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Pam's Creations had the following sales and purchase transactions during Year 2 . Beginning inventory consisted of 60 items at $350 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records. Required a. Record the inventory transactions in a financial statements model. b. Calculate the gross margin Pam's Creations would report on the Year 2 income statement. c. Determine the ending inventory balance Pam's Creations wouid report on the December 31, Year 2, balance sheet. Complete this question by entering your answers in the tabs below. Determine the ending inventory taalance Pam's Creations would report on the December 31, Year 2 , balance sheet

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