SunlandCompany sells one product. Presented below is information for January forSunlandCompany.

Nov.1 Inventory 270 units at $9each 5 Purchase 190 units at $10each 10 Sale 390units at $16each 15 Purchase 390 units at $9.50each 21 Sale 410 units at $17each 30 Purchase 370 units at $9.80each

Sunlanduses the FIFO cost flow assumption. All purchases and sales are on account.

Compute gross profit using the periodic system.

Gross profit$

AssumeSunlanduses a perpetual system.

Prepare all necessary journal entries.(If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Compute gross profit using the perpetual system.

Gross profit$

enter the gross profit in dollars