Barton Corporation employs a perpetual inventory system using FIFO. Barton Corporation has the following purchases and sales during the year ended December 31, 2014. Assume all purchases and sales are for cash. Inventory and Purchases Sales Beginning: 300 units @ $93/unit June 11 300 units January 29: 450 units @ $91/unit October 24: 200 units September 17:50 units @ $89/unit The units have a selling price of $115.00 per unit. a) Calculate the cost of goods available for sale, the number of units available for sale, and the units remaining in ending inventory. c) Prepare journal entries to record (a) the purchase on January 29 and (b) the sale on October 24. Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions. Dates must be entered in the format dd/mmm (ie. 15/Jan).) Cost of Goods available for sale: Units available for sale: General Journal Units remaining in ending inventory: Page GJS F Debit Credit Date Account/Explanation + - b) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory as well as the gross profit earned by Barton Corporation + -1 Cost of Goods Sold: Ending Inventory: Gross Profit: + = This schedule is provided for calculation purposes only and is not marked. Purchases/Transportation-In/ Cost of Goods Sold/ (Purchase Returns/Discounts) (Returns to Inventory) Date Units Cost/Unit Total $ Units Cost/Unit Total $ January 1 January 29 Balance in Inventory Units Cost/Unit Total $ June 11 September 17 October 24