Assume a Surting outlet store began July 2018 with 51 units of inventory that cost $20 each. The sales pnce of these units was $75 During July, the store completed these inventory transactions m (Chick the icon to view the inventory transactions.) Requirements 1. Determine the store's cost of goods sold for July under the periodic inventory system Assume the FIFO method. 2. Compute the store's gross profit for July Requirement 1. Determine the store's cost of goods sold for July under the periodic inventory system Assume the FIFO method Plus Data Table Cost of goods available LOSS Cost of goods sold Units Unit Cost Requirement 2. Compute the store's gross profit for July July 3 Sala 15 $ 20 81 21 8. Purchase 11 Sala Unit Sale Price S 75 77 75 77 36 Loss 20 21 19 Salo Gross profit 2 34 24 Sale 21 77 30 Purchase 23 22 78 31 Sale 21 77 Print Done