JAY Corporation uses a periodic inventory system. The purchases and sales made by the company during the month of October, 2021 are give below: October 01. 240 units purchased @ Php. 120.00. October 02. Sold 200 units @ Php. 140.00. October 09. Purchased 100 units @ Php. 125.00. October 10. Sold 110 units @ Php. 145.00. October 18. Purchased 40 units @ Php. 140.00. October 21. Purchased 60 units @ Php. 150.00. October 26. Sold 80 units @ Php. 160.00. Compute inventory on October 31, 2021 and the Gross Profit using the First in, first out (FIFO) method only.