Sandys Discount Computer Outlet just opened and uses the Perpetual Inventory system. She purchased 8 identical laptops from Dell. All of them had the same features and model number in addition to being the same size. The laptops do not have serial numbers on them.

She purchased two on May 10th and paid $800 each

She purchased one on May 16th and paid $840

She purchased two on May 20th and paid $720 each

She purchased three on May 28th and paid $780 each

(i)If Sandy uses the FIFO Method of costing inventory, what is the total COGS (Cost of Goods Sold) amount for May if she sells five laptops during the month?

(ii) What is her ending Inventory dollar amount at the end of May if she sells five computers during the month?

(iii) If the selling price of each laptop is $1,100, what is her Gross Margin/Gross Profit and Gross Margin/Profit % in May, assuming five laptops are sold?