Great Adventures Problem AP6-1 [The following information applies to the questions displayed below.] Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022 . All watches are sold for $502 each, Jut. 17 Purchased 52 watches for $7,904 (\$152 per watch) on account. Jul. 31 sold 42 watches for $21,084 cash. Aug. 12 Purchased 42 watches for $6,804 ( $162 per watch) cash. Aug. 22 Sold 32 watches for $16,964 on account. Sep. 19 Paid for watches purchased on July 17. Sep. 27 Receive cash of $10,280 for watches sold on account on August 22 . oct. 27 Purchased 82 watches for $14,104 ( $172 per watch) cash. Nov. 20 Sold 92 watches for $46,184 cash. Dec. 4 Purchased 104 watches for $18,928 (\$182 per watch) on account. Dec. 8 Sotd 42 watches for $21,084 on account. Great Adventures Problem AP6-1 Part 1 Required: 1.a. Calculate sales revenue, cost of goods sold, and ending inventory as of December 31, 2022, assuming Suzie uses FiFO to account for inventory