1. Use the following information to calculate the a) value of inventory on hand on Mar 31, b) cost of goods sold and c) Gross Profit during March under FIFO perpetual inventory system.

Mar 1	Beginning Inventory	68 units @ $15.00 per unit
5	Purchase	140 units @ $15.50 per unit
9	Sale	94 units @ $19.00 per unit
11	Purchase	40 units @ $16.00 per unit
16	Purchase	78 units @ $16.50 per unit
20	Sale	116 units @ $19.50 per unit
29	Sale	62 units @ $21.00 per unit