Coronado Company sells one product. Presented below is information for January for Coronado Company. Jan. 1 Inventory 4 Sale 11 Purchase 13 Sale 20 Purchase 27 Sale 112 units at $5 each 88 units at $8 each 165 units at $6 each 134 units at $9 each 150 units at $6 each 93 units at $11 each Coronado uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Coronado uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Compute gross profit using the periodic system. Gross profit $ e Textbook and Media List of Accounts Assume Coronado uses a perpetual system. Prepare all necessary journal entries. (If no entry is required, select "No entry"for the account titi Date Account Titles and Explanation Debit Credit (To record the sale) (To record the cost of inventory) (To record the sale) (To record the cost of inventory) (To record the sale) (To record the cost of inventory)