Marigold Company sells one product. Presented below is information for January for Marigold Company. 104 units at $5 each Jan. 1 Inventory 4 Sale 79 units at $8 each 11 Purchase 145 units at $6 each 115 units at $9 each 13 Sale 162 units at $6 each 107 units at $10 each 20 Purchase 27 Sale Marigold uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Marigold uses a periodic system. Prepare al necessary journal entries, including the end-of-monthdlosing enery to record cost of goods soid. A physical count indicates that the ending inventory for January is 110 units. (fno enbry is required, select "No entry for the occount titles and enter 0 for the amounts. Credit account tiles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit Date Accounts Recalable 632 Jan4 Seles Revenue 632 Purchases 870 Accounts Payable 170 Accounts Recelvable 1035 Sales Revenue Purchases jan, 20 Y 972 Accounts Payable 972 an. 27 Accounts Recelvable 1070 Sales Revenue 1070 Jan. 31 Inventory Compute gross profit using the periodic system. Gross profit S Assume Marigold uses a perpetual system. Presare all necessaryiournal entries (f no entryis requind, select "Noerery for the accourt sitles ond enter Ofor the amounts Credit account titles are automatically indented when omount ls entered. Do not indent manua Account Titles and Explanation Date Debit Credit (To record the sele) (Te record the cost of inventory) (To record the sele) (To record the cost of inventory) (To record the sale) Compune gros profe uaing the sersetual svatem. Gross proft $