I cannot deal with this problem

plz help me and explain how to do it

E-IEA {learning Dhjeetives 2, 3: Analyzing irmentrrrj.I transactions under FIFO costing} Ken's, [nc.'s inventor}r records for a particular development program show the following at December 3 1: At December 31, nine of these programs are on hand. joumalize for Ken's: 1. Total December purchases in one summery entrv. All purchaser. were on credit. 1. Total December sales and cost of goods sold in two summer],r entries. The selling priee nos $550 per unit, and all sales were on credit. Assume that Ken's uses the FIFO inventory method and the sale took pIace on December 28. - 3. Under FIFO, how much gross prot would Kenis earn on these transactions? What 1.5 the FIFO cost of Ken's ending inventonr? Eli-331i (Looming Objective 2: Measuring gross protFIFO vs. UFO; falling prices} Suppose a store in Paris. ended September with 1,100,000 units of merchandise that oust an average of 9.00 each. Suppose the store then sold 1.000.000 units {or 1120.? million during October. Further. assume the store made two large purchases during October as Iollows: I Requirements 1. At October 31. the store manager needs to know the store's gross prot under both FIFO and LIFO. Suppl}: this itifonnation. 1. What caused the FIFO and UFO gross prot gures to dier? 3. Assume: that the store uses FIFO, and that the store manager, whose bonus is based on prots, decides to value all units in ending inventory at 9 per unit. What impact will this action have on gross prot and net income? Should this be allowed