Swifty Company sells one product. Presented below is information for January for Swifty Company. Jan. 1   Inventory   103 units at $5 each 4   Sale   82 units at $8 each 11   Purchase   135 units at $7 each 13   Sale   102 units at $9 each 20   Purchase   167 units at $7 each 27   Sale   108 units at $11 each Swifty uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Swifty uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 113 units. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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