David sells a cookbook to retail stores and online retailers. The books sell for $20 and he purchases them from the publisher on an as needed basis. David uses the FIFO method of inventory valuation. For the month of June, David has the following transactions.

*Inventory is 400 units in the beginning of June

1) What is the ending inventory in units and dollars for June 30? 2) What is the total sales for June? 3) What is the cost of goods sold for June? 4) What is the gross Profit for June?

Date	Transaction	Number of units	Cost Per Unit	Sale Price
6/1	Inventory	400	10.00
64	Sale	250		20.00
6/8	Purchase	300	11.00
6/10	sale	100		20.00
6/12	purchase	500	12.00
6/15	sale	350		20.00
6/20	sale	420		20.00
6/24	purchase	400	12.50
6/28	sale	200		20.00
6/30	sale	120		20.00