Cost of good sold?

Gross profit?

3. Assume that three identical units of merchandise were purchased during October, as follows October Purchase Purchase Purchase Units Cost S 5 13 12 28 Total Assume one unit is sold on October 31 for $28: I.Determine cost of goods sold and gross profit, under the LIFO method S33 2.Record the sales using the perpetual inventory system. October 31 $28 ANSWER: Sales Cost of goods sold Gross profit Ending inventory S18