Grady Yarn Shop, a regional Craft Market, maintains acrylic yarn by the skein. The second months yarn purchases and sales at its Columbus, Ohio, location follow:

Date	Description	Quantity	Unit Cost or Selling Price
Nov 1	Beginning Inventory	10	$3.25
Nov 2	Purchase	11	$3.28
Nov 6	Purchase	2	$3.30
Nov 8	Sold	3	$6.80
Nov 13	Purchase	2	$3.35
Nov 14	Sold	3	$7.00
Nov 25	Purchase	4	$3.38
Nov 28	Sold	5	$7.10

Excel Inventory Valuation Download Excel Inventory Valuation

Required:

Calculate the value of (i) ending inventory, (ii) Cost of Goods Sold, and (iii) gross profit using the FIFO cost flow assumption, following the periodic inventory approach.