> Next question Get a similar question You can retry this question below The following transactions occurred for the month of May. Date Units Cost Total Sales Price 1-May Beginning Balance 60 14 $840 2-May Purchase 70 12 $840 3-May Purchase 75 15 $1, 125 10-May Sale 80 $40 15-May Purchase 40 18 $720 17-May Sale 55 $40 30-May Sale 95 $40 Create a perpetual inventory record then calculate the Cost of Goods Sold, Ending inventory, and Gross Profit for the month under FIFO Purchases Cost of Goods Sold Dates Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost May 1 May 2 70V 12.00 840.00 May 3 75 v 15 V 1,125.00