lyryx Spreadsheet Pt Preferences Assignment 4 (Question 3) ende singh sh 2022-07-2 Question 3 [14 points] The United Corporation company has the following purchases and sales during the year ended December 31, 2014 Inventory and Purchases Beginning 170 unts @$103unt March 21, 150 units May 7 $97unt 250 units @ $106/unt Sales February 5 70 units November 18 200 units The units have a selling price of $120 00 per un a) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross proft earned by United Corporation using the FIFO system Cost of Goods Sold Ending Inventory Gross Prote FIFO b) Prepare journal entries to record the following (assuming all sales and purchases are for cash) (a) The purchase on May 7, (b) The sale on November 18. Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions Dates must be entered in the format ddimmm (e. 15/Jan) Cate General Journal Account Explanation Type here to search Page Gu Debt Credit AC Partly sunny AGEING TH 2812-41-26