Sarasota inc. Is a retailer using a perpetual inventory system. All sales returns from customers result in the goods being returned to inventory. (Assume that the inventory is not damaged) Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Sarasota Inc. for the month of January. Using FIFO method, calculate Wi cost of goods sold, (ii) ending inventory, and (0ii) gross profic (Avwame cales returns had a cost of $20 and purchase returns had a cost of $24 ) Cost of soedseald 3 Endisisinvemery 5 Grows Prohit