Nash Company sells one product. Presented below is information for January for Nash Company.

Jan. 1		Inventory		118	units at $5 each
4		Sale		93	units at $8 each
11		Purchase		165	units at $6 each
13		Sale		136	units at $9 each
20		Purchase		163	units at $7 each
27		Sale		104	units at $11 each

Nash uses the FIFO cost flow assumption. All purchases and sales are on account.

a) Assume Nash uses a perpetual system. Prepare all the journal entries.

b)Compute the gross profit using the perpetual system