Alberto \& Sons, Inc., a retailer of antique figurines, engages in the following transactions during October of the current year. Oct. 1 Purchases 100 Hummels at $50 each. Oct. 5 Sells 50 of the Hummels at $80 each. Compute Alberto \& Sons's gross profit for October. Home Sweet Home Inc. is a retailer of home accessories. The company's inventory balance at the beginning of the year was $720,000; Home Sweet Home purchased $600,000 of goods during January, and sales during January were $960,000. What is the balance that would appear in Home Sweet Home's Inventory account on February 1 assuming use of a periodic inventory system? Murphy Co. is a high-end retailer of fine fashions for men. Murphy's inventory balance at the beginning of the year is $300,000, and Murphy purchases $600,000 of goods during the year. Its inventory balance at the end of the year is $250,000. What is the cost of goods sold for the year