Racers ATVs sells many makes and models of all$-$terrain vehicles. Racers uses a perpetual inventory system. On January $1,$ Racers had a beginning inventory of AXVs costing $$95,500.$

On January $14,$ Racers received a shipment of Model AXVs with a purchase price of $$19,000$ and transportation costs of $$325.$

On May $19,$ Racers received a second shipment of AXVs with a purchase price of $$21,500$ and transportation costs of $$350.$

On November $1,$ Racers received its before$-$Christmas shipment of AXVs with a purchase price of $$35,500$ and transportation costs of $$450.$

Make the necessary journal entries for January $14,$ May $19,$ and November $1$ to show the purchase of the inventory $($assume they paid cash$).$

Assume that a physical inventory count on December $31$ showed an ending inventory of AXVs of $$42,000.$ Determine cost of goods sold for the AXV model for the year.

If sales of AXVs were $$170,100,$ what profit did Racers make on this model?