Required information [The following information applies to the questions displayed below] Now that operations for outdoor clinics and TEAM events are running smoothly. Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multuse (MU) watches. Beyond the normal timekeepling features of most watches, MU watches are able to report temperature, altitude, and barometric pressure MU watches are waterproof, so moisture from kayaking, rain, fishing, or even dling up to 100 feet won't damage them. Suzle decides to have MU watches avaliable for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025. All watches are sold for $499 each. July 17 Purchased 49 watches for $7,301 (\$149 per watch) on account. July 31 Sold 39 watches for $19,461 cash. August 12 Purchased 39 watches for $6,201 ( $159 per watch) cash. August 22 Sold 29 watches for $14,471 on account. Septenber 19 Paid for watches purchased on July 17. Septester 27 Receive cash of $15,609 for watches sold on account on August 22. Notober 27 Purchased 79 watches for $13,351 ( $169 per watch) cash. Noventer 20 sold 89 watches for $44,411 cast , 52 . Decenber 4 Purchased 118 watches for $21,122 (\$179 per watch) on account. Decenber 8 Sold 39 watches for 519,461 on account. Required: 1.a. Calculote sales revenue, cost of goods sold, and encing inventory as of December 31, 2025, assuming Suzie uses a FiFO perpetual inventory system to account for inventory. 1.b. Prepare the gross profit section of a partial income statement for transactions related to MU watches. Complete this question by entering your answers in the tabs below. Calculate sales revenue, cost of goods sold, and ending inventory as of December 31, 2025, assuming Suzie uses a fifo perpetual inventory system to account for inventory