Date Explanation Units Unit Cost OR Unit Selling Price 3/1 Beginning inventory 100 $40 3/3 Purchase 60 $45 3/4 Sale 50 $110 3/10 Purchase 200 $60 3/16 Sale 60 $120 3/19 Sale 100 $120 3/25 Sale 50 $120 3/30 Purchase 60 $65 Assuming the FIFO assumption, answer the following: 1) Calculate the total dollar amount charged to cost of goods sold for the month of March. 2) Calculate the dollar amount assigned to the inventory on hand on March 31. 3) Calculate the dollar amount charged to cost of goods sold for the sale on 3/16. 4) Prepare the journal entry to record the sale of