Kirk's Sales Ltd., a small Ford dealership, has provided you with the following information with respect to its vehicle inventory for the month of May. The company uses the specific identification cost formula Model Serial # Date Explanation May 1 Beginning inventory Taurus 081362 F1883 Unit Cost/Price $24,700 25,600 F-150 F-150 F1921 28.500 Mustang G62313 29.200 Flex X3892 30,900 B Sales Taurus C81362 25,600 Mustang G62313 32,000 13 Purchases Mustang G71811 30,400 Flex X4214 31,700 Escape E21202 28,300 Mustang G71891 27,800 Mustang G62313 29,200 Flex X3892 30,900 8 Sales Taurus C81362 25,600 Mustang G62313 32,000 13 Purchases Mustang G71811 30,400 Flex X4214 31,700 Escape E21202 28,300 Mustang G71891 27.800 Flex X4212 29,800 19 Sales Mustang G71891 32,800 F-150 F1921 33,200 Flex X3892 33,100 Escape E21202 32,800 23 Purchases Taurus C81528 27.000 Escape E28268 30,700 Determine the cost of goods sold and ending inventory for the month of May. Cost of Goods Sold $ Ending Inventory $ Determine the gross profit for the month of May. Gross profit $