During September, KC Company sells 730 mountain bikes for $1,000 each. The company has the following inventory purchase transactions: Date 1-Sep Transaction Beginning Inventory # of Units Unit cost Total Cost 50 $710 $35,500 7-Sep Purchase 425 $715 303,875 19-Sep Purchase 275 $723 198,825 750 $538,200 7. $ What were company's sales for the period? For questions 8-10 assume the company uses First-in, First-out (FIFO) inventory valuation. 8. $ Calculate ending inventory (FIFO) Chapter 6 9. $ 10. $ Calculate cost of goods sold (FIFO) Calculate gross profit (FIFO) Page 6-1