RUV commenced operations on 1 June 2022 selling one type of shirt. The company uses FIFO (first in, first out)

and perpetual inventory control. The June inventory and sales records for the shirts were as follows:

Date Purchase price unit Units purchased Units sold Selling price per unit Units on hand June 1 $11 1 500 1 500 10 $12 900 2 400 12 300 $20 2 100 17 $14 600 2 700 23 1 800 $20 900 27 $13 1 500 2 400 29 700 $22 1 700 30 $15 200 1 900 1 Calculate COGS for the month ended 30 June 2022.

2 Calculate the cost of ending inventory as at 30 June 2022.

3 Calculate gross profit for the month ended 30 June 2022.

4 Assume that on 30 June, a total of 400 units (not 200 units) were purchased for $17 each. Calculate the change in gross profit for the month ended 30 June 2022, based on this assumption.