Lucasville Inc. inventory records for a particular development program show the following at March 31 , 2020: (Click the icon to view the accounting records.) At March 31, 10 of these programs are on hand. Lucasville uses the perpetual inventory system. Required 1. Journalize for Lucasville: a. Total March purchases in one summary entry. All purchases were on credit. b. Total March sales and cost of goods sold in two summary entries. The selling price was $575 per unit, and all sales were on credit. Lucasville uses the FIFO inventory method. 2. Under FIFO, how much gross profit would Lucasville earn on these transactions? What is the FIFO cost of Lucasville's ending inventory? Requirement 1a. Journalize for Lucasville's total March purchases in one summary entry. All purchases were on credit. (Record debits first, then credits. Explanations are not required.) Now record the entry for the cost of inventory sold assuming FIFO. Requirement 2. Under FIFO, how much gross profit would Lucasville earn on these transactions? What is the FIFO cost of Lucasville's ending inventory? How much gross profit would Lucasville earn on these transactions? $ What is the FIFO cost of ending inventory? \$ Accounting records Requirement 1b. Journalize for Lucasville's total March sales and cost of goods sold in two summary entries. The selling price was $575 per unit and all sales were on credit. _ucasville uses the FIFO inventory method. (Do not yet record the cost related to the sale. We will do this in the next journal entry.) _et's start by recording the entry for March sales