Problem 1 Required Beginning inventory, purchases and sales data for baseball bats are as follows: Apr 3 12 units $45 Inventory Purchase 13 units 18 units Sales Purchase $47 $60 $60 $75 9 units Sales 10 units Assuming the business maintains a periodic inventory system, calculate total sales, the cost of merchandise sold and gross profit under the First-in, first-out method: (10 points) Sales Cost of Goods Sold lea Gross Profit S Focus - Assuming the business maintains a periodic inventory system, calculate total sales, the cost of merchandise sold and gross profit under the First-in, first-out method: (10 points) Sales Cost of Goods Sold Gross Profit