heridan Companyhad a beginning inventory balance on July 1 of410units at a cost of $3.20each. During the month, the following inventory transactions took place:

Purchases

Sales

DateUnitsCost per unitDateUnits

Price per unitJuly 101,480

$3.30July 2

310$6.1013720

3.50

11

1,0406.10275903.70

28

5406.50

Calculate the cost of goods available for sale and the number of units of ending inventory.

Cost of goods available for sale

$Number of units of ending inventory

units

AssumeSheridanuses FIFO periodic. Calculate the cost of ending inventory, cost of the goods sold, and gross profit.

Ending inventory

$Cost of goods sold

$Gross profit$