Requesting help with FIFO and Journal Entry Data. Thank you!

The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31 are as follows: Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in 3, using the first-in, first-out method. 2. Determine the total sales and the total cost of goods sold for the period. Journalize summary entries for the sales and corresponding cost of goods sold for the period. Assume that all sales were on account and date your journal entry March 31. 3. Determine the gross profit from sales for the period. 4. Determine the ending inventory cost as of March 31. 5. Based upon the preceding data, would you expect the ending inventory using the last-in, first-out method to be higher or lower? CHART OF ACCOUNTS Midnight Supplies General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 120 Accounts Receivable 131 Notes Receivable EXPENSES 132 Interest Receivable 510 Cost of Goods Sold 141 Inventory 515 Credit Card Expense 145OfficeSupplies146StoreSupplies151PrepaidInsurance181Land191OfficeEquipment192AccumulatedDepreciation-OfficeEquipment193StoreEquipment194AccumulatedDepreciation-StoreEquipmentLIABILITIEs210AccountsPayable221NotesPayable516CashShortandOver520SalariesExpense531AdvertisingExpense532DeliveryExpense533InsuranceExpense534OfficeSuppliesExpense535RentExpense536RepairsExpense537SellingExpenses538StoreSuppliesExpense561DepreciationExpense-OfficeEquipment562DepreciationExpense-StoreEquipment 210 Accounts Payable 561 Depreciation Expense-Office Equipment 221 Notes Payable 562 Depreciation Expense-Store Equipment 222 Interest Payable 590 Miscellaneous Expense 231 Salaries Payable 710 Interest Expense 241 Sales Tax Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends