Question 1 Bonita Company sells one product. Presented below is information for January for Bonita Company.

Jan. 1: Inventory 111 units at $5 each

Jan 4 :Sale 90 units at $8 each

Jan 11: Purchase 159 units at $6 each

Jan 13: Sale 130 units at $9 each

Jan 20: Purchase 149 units at $7 each

Jan 27: Sale 85 units at $11 each

Bonita uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Bonita uses a perpetual 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 114 units.

please also provide gross profit: