The Cotton Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Cotton Company uses the perpetual inventory system. UPLOAD YOUR ANSWER AS A PDF FILE. ALSO, IF YOU WANT PARTIAL CREDIT, UPLOAD YOUR INVENTORY SCHEDULE.

Date	Explanation	Units	Unit Cost OR Unit Selling Price
3/1	Beginning inventory	200	$60
3/3	Purchase	70	$75
3/4	Sale	70	$110
3/10	Purchase	300	$90
3/16	Sale	60	$120
3/19	Sale	100	$120
3/25	Sale	50	$120
3/30	Purchase	60	$95

Assuming the FIFO assumption, answer the following:

1) Calculate the total dollar amount charged to cost of goods sold for the month of March.

2) Calculate the dollar amount assigned to the inventory on hand on March 31.

3) Calculate the dollar amount charged to cost of goods sold for the sale on 3/16.

4) Prepare the journal entry to record the sale of goods on 3/19