The ABC Inc. company has the following purchases and sales during the year ended December 31, 2014 Inventory and Purchases Beginning 300 units @ $79 unit February 19: 450 units @577iunt May 18 300 units @$82 unit Sales February 28: 300 units September 7.300 units The units have a selling price of $95.00 per unit a) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit earned by ABC Inc. using the FIFO system FIFO Cost of Goods Soid Ending Inventory Gross Prof b) Prepare journal entries to record the following (assuming all sales and purchases are for cash) (a) The purchase on May 18, b) The sale on September 7. Enter the transaction letter as the description when preparing a journal entry When a transaction requires two separate journal entries, use the same letter for both descriptions Dates must be entered in the format dd/mmm (e 15Jan) General Journal Date Account Explanation Page QUB F Deot Credt