The following information for Dorado Corporation relates to the three-month period ending September 30.

	Units	Price per unit
sales	545,000	$60
beginning inventory	59,000	42
purchases	520,000	48
Ending inventory	34,000	?

Dorado expects to purchase 270,000 units of inventory in the fourth quarter of the current calendar year at a cost of $49 per unit and to have on hand 93,000 units of inventory at year-end. Dorado uses the last-in, first-out (LIFO) method to account for inventory costs.

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

2. Prepare journal entries to reflect these amounts.