Current Attempt in Progress Coronado Company sells one product. Presented below is information for January for Coronado Company. Coronado uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Coronado uses a perpetual system. Prepare all necessary journal entries. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Inventory 990 Accounts Payable Accounts Receivable 1206 Sales Revenue (To record the sale) Cost of Goods Sold Inventory \begin{tabular}{|r|} \hline 670 \\ \hline \end{tabular} Compute gross profit using the perpetual system. Gross profit $ eTextbook and Media List of Accounts Attempts: 0 of 7 used