Please explain how to do line 16 :)

The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31 are as follows Jan. Feb Mar. Date 1 10 28 Sale Sale 5 Sale 30 10 16 28 5 14 25 Transaction Number of Units Inventory 2,600 Purchase 7,000 3,850 1,300 500 30 Purchase Sale Sale Purchase Sale Purchase Sale 17,500 8,700 8,600 14,000 10,100 3,300 7,750 Per Unit $54.00 62.00 108.00 108.00 108.00 64.00 113.00 113.00 65.60 113.00 66.00 113.00 Total $140,400 434,000 415,800 140,400 54,000 1,120,000 983,100 971,800 918,400 1,141,300 217,800 875,750 A

FIFO inventory Unit Cost column The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31 are as foltows. 1 Record the inventory, purchases, and cost of goods sold data in a perpetual imventory record similar to the one ullustrated in using the first-in, first-out method 2. Determine the fotal sales and the total cost of goods sold for the period. Journalize summary entries for the sales and comesponding cast of goods sold for the penod. Assume that all sales were on account and date your journal entry March 31 3. Determine the gross profit from sales for the penod 4 Determine the ending inventory cost as of March 31 5. Based upan the preceding data, would you expect the ending inventory using the to be higher or lower