Skysong uses the FIFO cost flow assumption. All purchases and sales are on account. \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline Jan.4 & Accounts Reccivable & 680 & \\ \hline & Sales Revenue & & 680 \\ \hline \multirow[t]{2}{*}{Jan11} & Purchases & 1085 & \\ \hline & Accounts Payable & & 1085 \\ \hline \multirow[t]{2}{*}{Jan13} & Accounts Receivable & 1152 & \\ \hline & Sales Revenue & & 1152 \\ \hline \multirow[t]{2}{*}{Jan20} & Purchases & 1211 & \\ \hline & Accounts Payable & & 1211 \\ \hline \end{tabular} tan27 Accounts Receivable 1276 Sales Revenue 1276 Jan31 Inventory 735 Cost of Goods Sold 2091 Purchases Inventory Compute gross profit using the periodic system. Assume Skysong uses a perpetual system. Prepare all necessary journal entries. (If no entry is required, select "No entry" for the account tittes and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) (To record the cost of inventory) (To record the sale) (To record the sale) (To record the cost of inventory) (To record the sale) (To record the cost of inventory)