Crown Furniture began June with merchandise inventory of $49$ sofas that cost a total of $$34,790.$ During the month, Crown purchased and sold merchandise on account as follows:

View the inventory records.

Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's Cost of Goods Sold, ending merchandise inventory, and gross profit.

calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. $($Enter the oldest inventory layers first.$)$

Inventory Records

The gross profit is