Please use these chart of accounts

FIFQ perpetual inventory FIFO Chart of Accounts Journal Final Questions Instructions Date Transaction Number of Units Per Unit $75.00 85.00 150.00 150.00 150.00 87.50 160.00 160.00 89.50 160.00 Total Jan 1 Inventory 10 Purchase 28 Sale 30 Sale 5 Sale 10 Purchase 16 Sale 28 Sale 7,500 22,500 11,250 3,750 1,500 54,000 27,000 25,500 45,000 30 000 $562,500 1,912,500 1,687,500 562,500 225,000 4,725,000 4,320,000 4,080,000 4,027.500 4,800,000 Feb. Mar 5 Purchase 14 Sale Show Me How Calculator tructio 30 Sale 26,250 160.004200,000 Instructions 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one ilustrated in Exthiba3 using the first-in, first-out method. 2. Determine the total sales and the tolal cost of merchandlise sold for the period ournalize the entries in the sales and cost of merchandise sold accounts Assume that al sales were on account and dale your journat enty March 3t. Refer to the Chart of Accounts for exact wording of account tities 3. Determine the gross profit from sales for the period. 4. Determine the ending inventory cost as of March 31 5 Based upon the preceding data, would you expect the inventory using the last in first out method to be higher or lower? Chart of Accounts ASSETS REVENUE 110 Cash 111 Petty Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 410 Sales 610 IntereshRevenue EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 516 Cash Short and Over 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense y Work IFO Chart of Accounts 1. 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable 562 Depreciation Expense-Store Equipment 590 Miscellaneous Expense 710 Intetest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary ck My Work