pring Co. began the month with 45 units of inventory that cost $50 each. On January 4, Spring purchase 85 units for $45 each, on account. January 15 sell, on account, 115 units for $80 each.

Assuming LIFO perpetual method:

Prepare the necessary journal entries

What is the Dollar Value of Cost of Goods Sold at January 31?

What is the Dollar Value of Ending Inventory at January 31?

What is the Gross Margin?