- You recelved partial credit in the previous attempt. b. Prepare the gross profit section of a partial income statement for transactions related to MU watches. Complete this question by entering your answers in the tabs below. Calculate sales revenue, cost of goods sold, and ending inventory as of December 31, 2025, assuming Surie uses a fifo perpetual inventory system to account for inventory. b. Prepare the gross profit section of a partial income statement for transactions related to MU Complete this question by entering your answers in the tabs below. Prepare the gross profit section of a partial income statement for transactions related to MU watches. Required information RWP6-1 (Algo) Great Adventures Continuing Case [The following information applies to the questions displayed below.] Now that operations for outdoor clinics and TEAM events are running smoothly. Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproofsso moisture from kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025 . All watches are sold for $506 each. July 17 Purchased 56 watches for $8,736 (\$156 per watch) on account. July 31 Sold 46 watchen for $23,276 canh. August 12 Purchased 46 watehes for $7,636 (\$166 per vateh) cash. Auguat 22 Sold 36 watchen for $18,216 on account. September 27 Receive eash of $12,600 for watehes sold on account on Auguat 22. October 27 purchased 86 watches for $15,136 (\$176 per watch) cash. November 20 Sold 96 vatehes for 548,576 canh. Decomber 4 Purchased 112 watches for $20,832 ( $186 per watch) on account. December 8 Sold 46 vatehes for $23,276 on account