Ending inventory at 31 December December Explanation Quantity Unit Cost ($) Total Cost ($) Gross Profit for the Month of DecemberAnna's Frozen Treats Ltd sells only one product, a refreshing lemonade ice-block that is very popular during the summer. The companyr uses the perpetual inventory system for recording its cost of sales. The inventories and purchases for the month of December 2019 are as follows: Purchases Sales Quantity Cost per unit Quantity 1 Be ginning inventory 100 l .00 3 Purchase 200 l .30 7 Sales 220 9 Purchase 200 1.80 14 Sales 2 80 18 Purchase 300 2 .00 21 Sales 200 30 Purchase 100 2 .20 During the month units were sold for $3.50 per unit