Whispering Company sells one product. Presented below is information for January for Whispering Company.

Jan. 1		Inventory		111	units at $5 each
4		Sale		90	units at $8 each
11		Purchase		159	units at $6 each
13		Sale		130	units at $9 each
20		Purchase		149	units at $7 each
27		Sale		85	units at $11 each

Whispering uses the FIFO cost flow assumption. All purchases and sales are on account.

Assume Whispering uses a perpetual system. Prepare all necessary journal entries. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Compute gross profit using the perpetual system.