Pam’s Creations had the following sales and purchase transactions during 2016. Beginning inventory consisted of 270 items at $95 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records.

Date   Transaction   Description

Mar. 5   Purchased   250 items @   $   105     

Apr. 10   Sold   145 items @   $   205     

June 19   Sold   155 items @   $   205     

Sept. 16   Purchased   200 items @   $   110     

Nov. 28   Sold   135 items @   $   210  

a. Record the inventory transactions in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b. Calculate the gross margin Pam’s Creations would report on the 2016 income statement.

c. Determine the ending inventory balance Pam’s Creations would report on the December 31, 2016,