RWP6-1 (Algo) Great Adventures Continuing Case Skip to question [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 multiuse (MU) watches. Beyond the normal timekeeping 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 diving up to 100 feet wont damage them. Suzie decides to have MU watches available 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 $493 each. July 17 Purchased 43 watches for $6,149 ($143 per watch) on account. July 31 Sold 33 watches for $16,269 cash. August 12 Purchased 33 watches for $5,049 ($153 per watch) cash. August 22 Sold 23 watches for $11,339 on account. September 19 Paid for watches purchased on July 17. September 27 Receive cash of $19,200 for watches sold on account on August 22. October 27 Purchased 73 watches for $11,899 ($163 per watch) cash. November 20 Sold 83 watches for $40,919 cash. December 4 Purchased 106 watches for $18,338 ($173 per watch) on account. December 8 Sold 33 watches for $16,269 on account. RWP6-1 (Algo) Great Adventures Continuing Case Part 1 Required: 1-a. 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. 1-b. Prepare the gross profit section of a partial income statement for transactions related to MU watches. 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. Sales Revenue: Cost of good sold: Ending Inventory: