The following information for D Corporation relates to the 3-month period ending September 30.

		Units		Price per Unit
Sales		495,000		$	50
Beginning inventory		49,000			32
Purchases		470,000			38
Ending inventory		24,000			?

D expects to purchase 220,000 units of inventory in the fourth quarter of the current calendar year at a cost of $39 per unit, and to have on hand 73,000 units of inventory at year-end. D uses the last-in, first-out (LIFO) method to account for inventory costs.

1. Determine the cost of goods sold and gross profit amounts D should record for the three months ending September 30.

2. Prepare journal entries to reflect these amounts.

I WILL GIVE THUMBS UP FOR CORRECT ANSWER