Selbe Inc. is a retailer using the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory. (Assume that the inventory is not damaged.) Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Selbe Inc. for the month of January.

Date	Description	Quantity	Unit Cost or Selling Price
Dec.	31	Ending inventory	164	$21
Jan.	2	Purchase	98	23
Jan.	6	Sale	182	40
Jan.	9	Sale return	8	40
Jan.	9	Purchase	71	28
Jan.	10	Purchase return	17	28
Jan.	10	Sale	50	50
Jan.	23	Purchase	106	28
Jan.	30	Sale	127	50

Using FIFO method, calculate (i) cost of goods sold, (ii) ending inventory, and (iii) gross profit. (Assume sales returns had a cost of $21 and purchase returns had a cost of $28.)

Cost of goods sold	$
Ending Inventory	$
Gross Profit	$