FIFo Pecpetual Giventary Hequired: 3. Dutemane the grees pruhe froms ales for the penot 2. Determine the total sales and the total cost of goods sold for the period. Journalize the entries in the sales and cost of goods sold accounts, Assume that an entry, leave it blank. 3. Determine the gross profit from sales for the neriod. 4. Determine the ending inventory cost on Jane 30. 5. Hased ugan the sareceding data, would you expect the ending imventory using the last-in, first-out mothod to bet higher of lawee