Assume that three identical units of merchandise are purchased during October, as follows:

			Units	Cost
October	5	Purchase	1	$ 5
	12	Purchase	1	7
	28	Purchase	1	9
Total			3	$21

Assume one unit is sold on October 31 for $15. Determine Cost of Merchandise Sold, Gross profit, and Ending Inventory under the FIFO method.