Question Completion Status: QUESTION 2 The Cotton Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Cotton Company uses the perpetual inventory system. UPLOAD YOUR ANSWER AS A PDE FILE. ALSO, JE YOU WANT PARTIAL CREDIT, UPLOAD YOUR INVENTORY SCHEDULE Date Explanation Units Unit Cost OR Unit Selling Prics 3/1 3/3 200 70 70 Beginning inventory Purchase Sale Purchase Sale Sale $60 $75 5110 $90 3/4 3/10 300 3/16 60 3/19 100 S120 S120 $120 $95 3/25 Sale 3/30 Purchase 50 60 Assuming the FIFO assumption, answer the following: 1) Calculate the total dollar amount charged to cost of goods sold for the month of March 2) Calculate the dollar amount assigned to the inventory on hand on March 31. 3) Calculate the dollar amount charged to cost of goods sold for the sale on 3/16. 4) Prepare the journal entry to record the sale of goods on 3/19. Attach File