Need cost of goods sold for Jan 31, as well as gross profit.

Also need Journal Entry for Blossom Company. Lastly need to compute the gross profit using the perpetual system.

Question 4 of 4 6.12/25 III View Policies Show Attempt History Current Attempt in Progress Blossom Company sells one product. Presented below is information for January for Blossom Company. Jan. 1 Inventory 123 units at $5 each 98 units at $8 each 4 Sale 11 Purchase 13 Sale 136 units at $6 each 103 units at $9 each 169 units at $7 each 20 Purchase 27 Sale 108 units at $11 each Blossom uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Blossom uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 119 units. (If no entry is required, select "No entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) ate Account Titles and Explanation Debit Credit Accounts Receivable 784 Sales Revenue 784 Purchases 816 Accounts Payable 816 Accounts Receivable 927 Sales Revenue 927 10 Purchases 1183 Accounts Payable 1183 17 Accounts Receivable 1188 Sales Revenue 1188 31 Inventory 833 Cost of Goods Sold 1786 Purchases 1999 Inventory 615 (b) Compute gross profit using the periodic system. Gross profit $