Problem: Solve using Last in, First Out GOLD Company is a wholesaler of scented candles. The activity for item number 123 during June is presented below:

Date Transaction Units Cost Per Unit June 01 Inventory balance 6,000 P20.00 04 Purchases 9,000 24.00 12 Sales 10,800 19 Purchases 14,400 26.00 22 Sales 11,400 29 Purchases 4,800 27.00

Required: 1. Total Cost of the Ending Inventory 2. Total Cost of Goods Sold 3. Gross Profit