Question 3 (14 points] The United Corporation company has the following purchases and sales during the year ended December 31, 2014. Inventory and Purchases Sales Beginning: 400 units @ $39/unit April 12 200 units March 2: 400 units @ $40/unit September 5: 200 units May 4: 150 units @ $36/unit The units have a selling price of $45.00 per unit. a) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit earned by United Corporation using the FIFO system. FIFO Cost of Goods Sold Ending Inventory Gross Profit b) Prepare journal entries to record the following (assuming all sales and purchases are for cash): (a) The purchase on March 2, (b) The sale on September 5. Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions. Dates must be entered in the format dd/mmm (ie. 15/Jan). General Journal Date Account/Explanation F Debit Credit Page GJS + . Activate Windows Go to Settings to activate Windows