using the data in the first two pictures answer the empty red boxes in the second two pictures.

Purchases Cost of merchandise sold Inventory Date 2016 Unit Quantity Cost Total Cost Unit Cost Total Cost Quantityll Unit Cost 60 Quantityll 2.500 2.500 7,500 Jan. 1 10 Total Cost 150,000 150.000 $10,000 7,500 68 $10.000 60 68 28 30 Feb. 5 10 2,500 1,250 1,250 500 60 68 68 68 150,000 85,000 85,000 34,000 6,250 5,000 4,500 4500 18,000 68 68 68 68 70 425.000 340,000 306,000 306.000 1.260,000 18.000 70 260.000 16 4,500 4,500 8,500 68 70 70 306,000 315,000 595.000 28 Mar. 5 13 500 5,000 5.000 15,000 70 70 70 71.6 945,000 350,000 350.000 1,074,000 15.000 71.6 12074.000 14 5.000 5.000 70 21.6 350,000 358,000 71.6 25 22500 172 180.000 21.6 10,000 10,000 2.500 11250 2.500 72 30 8.750 716 716,000 716.000 180.000 89,500 180,000 269,500 626,500 71.6 72 31 Balances 2.904.500 PR 7-1A FIFO perpetual inventory The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period ending March 31, 2016, are as follows: Number Per Date Transaction of Units Unit Total 1-Jan Inventory 2,500 $60 150,000 10 Purchase 7,500 68 510,000 28 Sale 3,750 120 450,000 30 Sale 1,250 120 150,000 5-Feb Sale 500 120 60,000 10 Purchase 18,000 70 1,260,000 16 Sale 9,000 125 1,125,000 28 Sale 8,500 125 1,062,500 5-Mar Purchase 15,000 71.6 1,074,000 14 Sale 10,000 125 1,250,000 25 Purchase 2,500 180,000 30 Sale 8,750 125 1,093,750 Instructions 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record, using the first-in, first-out method. 2. Determine the total sales and the total cost of merchandise sold for the period. Journalize the entries in the sales and cost of merchandise sold accounts. Assume that all sales were on account. 3. Determine the gross profit from sales for the period. 4. Determine the ending inventory cost as of March 31, 2016. 72 Correct Accounts Receivable Sales Correct Correct 2,904,500 Cost of Merchandise Sold Merchandise Inventory Correct 1 Problem 7A 2 Question 3. 3 4 5 Gross Profita 6 7 8 19 10 11 12 13 14