Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory Mar. 14 Purchased July 30 Purchased 79 units @ $14.00 = $ 1,106 270 units @ $15.00 4,050 Units available for sale Cost of goods available for sale 520 units 869 units @ $16.00 = 8,320 $13,476 Urban Glam Cosmetics made sales on the following dates at a selling price of $34 per unit: Assume that Urban Glam Cosmetics uses the specific identification method to cost inventory. The 742 units were specifically sold as follows: Jan. 10: 72 units from beginning inventory Mar. 15: Oct. 5: 5 units from beginning inventory, and 195 units from the March 14 purchase 52 units from the March 14 purchase, and 418 units from the July 30 purchase Calculate cost of goods sold and the gross profit. Cost of goods sold Gross profit