Tamarisk Company sells one product. Presented below is information for January for Tamarisk Company. Jan. 1 Inventory 4 Sale 11 Purchase 13 Sale 20 Purchase 27 Sale 116 units at $4 each 94 units at $8 each 154 units at $6 each 124 units at $9 each 169 units at $6 each 105 units at $11 each Tamarisk uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Tamarisk uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 116 units. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Jan. 4 Jan 11 Jan. 13 Jan. 20 Jan. 27 Compute gross profit using the periodic system. Gross profit $ Assume Tamarisk uses 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.) Date Account Titles and Explanation Debit Credit (To record the sale) (To record the cost of inventory) (To record the sale) (To record the cost of inventory) (To record the sale) (To record the cost of inventory) Compute gross profit using the perpetual system. Gross profit $