Paulas Parkas sells NorthPlace jackets. At the beginning of the year, Paulas had 20 jackets in stock, each costing $35 and selling for $60. The following table details the purchases and sales made during January:

Assume Paulas Parkas uses the moving average method.

a. Determine Paulas Parkas cost of goods sold and ending inventory for January.

b. Determine Parkas gross profit for January.

Number of Items Date Cost per Item January 2 Purchased 12$36.00 January 8 Purchased 10 January 10 Sold 15 January 17 Sold 14 January 22 Purchased 8 January 28 Sold 10 36.50 37.00