Ly Assignment 4 (Question 3) - Lyryx Learning Inc - Google Chrome lifa1.lyryx.com/student-servlets/LabServlet?ccid=11327 The Dylex Corporation company has the following purchases and sales during the year ended December 31, 2014. Inventory and Purchases Beginning 300 units @ $71/unit Sales September 19: 200 units October 19: 100 units @ $61/unit The units have a selling price of $90.00 per unit. a) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit earned by Dylex Corporation using the FIFO system. March 26 200 units @ $66/unit December 17: 300 units Cost of Goods Sold Ending Inventory Gross Profit b) Prepare journal entries to record the following (assuming all sales and purchases are for cash): (a) The purchase on March 26, (b) The sale on December 17. Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions. Dates must be entered in the format dd/mmm (ie. 15/Jan). Date FIFO General Journal Account/Explanation Page GJ8 F Debit Credit Type here to search 0 O E e 17:40 22C Mostly cloudy