The following information for Dorado Corporation relates to the three-month period ending September 30. Sales Beginning inventory Purchases Ending inventory Units 425,000 35,000 400,000 10,000 Price per Unit $ 36 18 24 ? Dorado expects to purchase 150,000 units of inventory in the fourth quarter of the current calendar year at a cost of $25 per unit, and to have on hand 40,000 units of inventory at year-end. Dorado uses the last-in, first-out (LIFO) method to account for inventory costs. a. Determine the cost of goods sold and gross profit amounts Dorado should record for the three months ending September 30. b. Prepare journal entries to reflect these amounts. X Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Determine the cost of goods sold and gross profit amounts Dorado should record for the three months ending September 30. Cost of goods sold $ 173,100 Gross profit $ 5,075,000 Required A Required B > The following information for Dorado Corporation relates to the three-month period ending September 30. Sales Beginning inventory Purchases Ending inventory Units 425,000 35,000 400,000 10,000 Price per Unit $ 36 18 24 ? Dorado expects to purchase 150,000 units of inventory in the fourth quarter of the current calendar year at a cost of $25 per unit, and to have on hand 40,000 units of inventory at year-end. Dorado uses the last-in, first-out (LIFO) method to account for inventory costs. a. Determine the cost of goods sold and gross profit amounts Dorado should record for the three months ending September 30. b. Prepare journal entries to reflect these amounts. x Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Prepare journal entries to reflect these amounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction General Journal Debit Credit 1 1 x 16,560,000 Inventory Cash or accounts receivable X x Sales revenue