24) Modern Dcor Furniture of $31,500. follows: s Modern Dcor Funiture began June with merchandise inventory of 45 sofas that cost a total 25 sofas@ $750 each 30 sofas @ 1,150 each 50 sofas e s775 each 35 sofas @ $1.200 each Purchase 14 Sale Sale Prepare a perpet the company's cost of goods sold, ending merchandise inventory, and gross p ual inventory record, using the FIFO inventory costing method, and determine rofit.(12 points) I Cost of Goods Sold Inventory on Hand I Purchases Quant Unit Total Quant Unit Total Quant Unit Tota Cost Cost te Cost Cost Cost Cost