Exercise Planet began January with merchandise inventory of 70 crates of vitamins that cost a total of $4,550. During the month, Exercise Planet purchased and sold merchandise on account as follows: E: (Click the icon to view the transactions.) Read the requirements. Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity 70 Cost 65 Cost 4550 Jan. 1 51 140 96 13440 70 65 4550 x Data Table 140 96 13440 13 70 65 4550 Jan. 5 Purchase 18 130 crates @ $76 each 140 crates @ $96 each Jan. 13 Sale Jan. 18 Purchase 26 150 crates @ $83 each 160 crates @ $100 each Jan. 26 Sale Totals Print Done Determine the company's gross profit using the FIFO inventory costing method