The United Corporation company has the following purchases and sales during the year ended December 31, 2014. Inventory and Purchases Beginning 140 units @$21/unit March 27 150 units @$22/unit May 5 250 units @ $21/unit Sales February 14 40 units October 30 200 units The units have a selling price of $30.00 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 eamed by United Corporation using the FIFO system FIFO Cost of Goods Sold 678 Ending Inventory Gross Profit b) Prepare journal entries to record the following (assuming all sales and purchases are for cash) (a) The purchase on May 5, (b) The sale on October 30 Enter the transaction other 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) Cate General Journal Account Explanation - Page GJ FDebit Credit