must use headings provided. quick response needed thanks!

Question 3 [14 points] The Velor Inc. company has the following purchases and sales during the year ended December 31, 2014 Inventory and Purchases Sales Specific Units Sold Beginning: 200 units @ $67/unit August 9, 200 units August 9: 130 units from beginning inventory March 14: 200 units @ $69/unit November 7: 300 units 70 units from the March 14 purchase October 13, 200 units @ $67/unit November 7.60 units from beginning inventory 110 units from the March 14 purchase 130 units from the October 13 purchase The units have a selling price of 90.00 per unit. a) Given that Velor Inc, employs a perpetual inventory system, calculate the cost of goods available for sale and the number of units available for sale, as well as the units remaining in ending inventory. Cost of goods available for sale Units availablo for sale Units remaining in onding inventory: b) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit earned by Velor Inc. using the specific identification system Specific Identification Cost of Goods Sold Ending Inventory Gross Profit c) Prepare journal entries to record the following (assuming all sales and purchases are for cash): (a) The purchase on October 13, (b) The sale on November 7. 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 dd/mmm (ie. 15/Jan) General Journal Page Gue Dato Account/Explanation F Debit Credit - + 1 Choose an Account or Heading tegories: Accounts and Headings: Commissions Earned sets Consulting Revenue Earned bilities Copyright uity Cost Of Goods Sold quity Delivery Expense evenues Depreciation Expense, Automobiles xpenses Depreciation Expense, Boats ther Depreciation Expense, Building Depreciation Expense, Equipment Depreciation Expense, Furniture Depreciation Expense, Land Improvements Depreciation Expense, Machinery Depreciation Expense, Trucks Depreciation expense Dividends Equipment Furniture Uncomo Summon Search: Erase Cancel Choose an Account or Heading ategories: Accounts and Headings: Income Summary ssets Income Taxes Expense iabilities Income Taxes Payable Equity Insurance Expense Equity Interest Earned Revenues Interest Expense Expenses Interest Payable Other Interest Receivable Investment in Bonds Land Land Improvements Long-Term Notes Payable Long-term Investment in Shares Machinery Merchandise Inventory Mortgage Payable Notes Receivable Office Salaries Expense Search: Erase Cancel Choose an Account or Heading ategories: Accounts and Headings: 11 JOffice Supplies Expense ssets Patents iabilities Prepaid Advertising Equity Prepaid Insurance Equity Prepaid Interest Revenues Prepaid Rent Expenses Property Taxes Expense Other Property Taxes Payable Rent Earned Rent Expense Rent Payable Rent Receivable Rent expense, office space Rent expense, selling space Retained Earnings Salaries Expense Salaries Payable Sales Search: Erase Cancel Choose an Account or Heading egories: Accounts and Headings: (Retained Earnings -ets Salaries Expense pilities Salaries Payable uity Sales quity Sales Discounts evenues Sales Returns and Allowances penses Sales Salaries Expense Cher Share Capital Short-Term Notes Payable Store Supplies Expense Supplies Supplies Expense Trademark Trucks Unearned Consulting Revenue Unearned Rent Unearned Revenue Utilities Expense Search: Erase Cancel