Bramble Inc. is a retailer using a perpetual inventory system. All sales returns from customers result in the goods being returned to inventory. (Assume that the inventory is not damaged.) Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Bramble Inc. for the month of January Unit Cost Date Dec 31 Jan. 2 Jan. 6 Jan. 9 Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase Sale Quantity 160 100 180 10 75 15 50 100 or Selling Price $21 23 42 42 25 25 9 an Jan. 10 44 Jan. Jan. 10 23 30 27 50 120 Using FIFO method, calculate (1) cost of goods sold, (ii) ending inventory, and (ii) gross profit. (Assume sales returns had a cost of $21 and purchase returns had a cost of $25.) Cost of goods sold $ Ending Inventory $ S Gross Profit