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Dundas Company's inventory records for its retail division show the following at May 31: (Click the icon to view the accounting records.) At May 31, 11 of these units are on hand. Read the requirements. Requirement 1. Journalize for Dundas total May purchases in one summary entry, under the perpetual system. All purchases were on credit. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit 3185 Inventory Accounts Payable 3185 Requirement 2. Journalize for Dundas total May sales and cost of goods sold in two summary entries, under the perpetual system. The selling price was $530 per unit and all sales were on credit. Assume that Dundas uses the FIFO inventory method. (Record debits first, then credits. Exclude explanations from any journal entries.) Dundas Company's inventory records for its retail division show the following at May 31: E (Click the icon to view the accounting records.) At May 31, 11 of these units are on hand. Read the requirements. Journal Entry Date Debit Credit Accounts Accounts Receivable 9540 Sales Revenue 9540 Now record the entry for the cost of inventory sold assuming FIFO. Journal Entry Date Accounts Debit Credit Cost of Goods Sold Dundas Company's inventory records for its retail division show the following at May 31: B (Click the icon to view the accounting records.) At May 31, 11 of these units are on hand. Read the requirements. Journal Entry Date Debit Credit Accounts Cost of Goods Sold Inventory Requirement 3. Under FIFO, how much gross profit would Dundas earn on for the month ending May 31? What is the FIFO cost of Dundas Company's ending inventory? The gross profit earned on these transactions is The FIFO cost of ending inventory is Dundas Company's inventory records for its retail division show the following at May 31: B (Click the icon to view the accounting records.) At May 31, 11 of these units are on hand. Read the requirements. Journal Entry - X Data Table Date Accounts Cost of Goods Sold Inventory May 1 Beginning inventory 10 units @ $160 = $1,600 May 15 Purchase 5 units @ $161 = $805 14 units @ $170 = $2,380 May 26 Purchase Requirement 3. Under FIFO, how much gross profit would Dun pany's ending inventory? Print Done The gross profit earned on these transactions is The FIFO cost of ending inventory is Choose from any list or enter any number in the input fields and then continue to the next