Current Attempt in Progress Skysong Company sells one product. Presented below is information for January for Skysong Company. Skysong uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Skysong uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 105 units. (II no enify 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.) Compute gross profit using the periodic system. Gross profit \$ Sales Revenue (To record the sale) Cost of Goods Sold Inventory (To record the cost of inventory) Inventory Accounts Paysble Jan13 Accounts Receivable 680 4 Accounts Paysble \begin{tabular}{|r|} \hline 1.085 \\ \hline \\ \hline 1,152 \\ \hline \end{tabular} Sales Revenue (To record the sale) Jan13 Cost ot Goods Sold 854 Inventory 85: (To record the cost of inventory) Inventory 1,211 Accounts Payable 1211 Accounts Recelvable 1.276 Sales Revenue SUPPOR Compute gross profit using the perpetual system