Crazy Crafts Inc. uses a perpetual inventory system and started operations on the first of the month. Please answer the following questions related to the information provided for the month's transactions. Assume that the Company uses the FIFO method and does not expect any returns. You may use the following spreadsheet to prepare your calculations: FIFO - Crazy Crafts Inc.xIsx. Your instructor will not mark the spreadsheet. Put your final answers in the question below. What is the Cost of Goods Sold for the month using the FIFO method? (1 mark) What is the ending inventory \\( \\$ \\) amount that would appear on the Company's Statement of Financial Position (Balance Sheet) using the FIFO method? (1 mark) What is the gross profit on the July 4 transaction using the FIFO method? (1 mark) Gross profit = A What is the ending inventory in Units for the month using the FIFO method? (1 mark) Ending inventory \\( = \\) What is the ending inventory \\( \\$ \\) amount that would appear on the Company's Statement of Financial Position (Balance Sheet) using the FIFO method? (1 mark) What are the journal entries that the Company would prepare on July 4 using the FIFO method? Assume the transaction was on account. Hint: the first entry pertains to the sale and the 2 nd entry pertains to the inventory. ( 4 marks)