Hamilton Co. opened its doors for business on January 1st. Below is a chart outlining the purchases and sales of inventory for Hamiltons first month of business:

Date	Event	Units	Price
1/3	Purchase Inventory	16	$60/unit
1/6	Purchase Inventory	25	$66/unit
1/9	Sell Inventory	12	$200/unit
1/11	Purchase Inventory	22	$67/unit
1/14	Purchase Inventory	6	$70/unit
1/15	Sell Inventory	30	$220/unit

Hamilton Co. uses the perpetual system to account for its inventory.

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1. Assuming Hamilton uses the FIFO cost-flow assumption, how much Cost of Goods Sold will be recognized in the month of January?

2. Assuming Hamilton uses the FIFO cost-flow assumption, how much Gross Margin (also referred to as Profit Margin) will be recognized in the month of January?

3. Assuming Hamilton uses the FIFO cost-flow assumption, how much ending inventory will be recognized on January 31st?