Can you help me answering these question parts, please? I couldn’t solve it, ple

Question

Can you help me answering these question parts, please? I couldn’t solve it, please! Thank you M67 Recording Journal Entries for Purchases and Sales Using a Perpetual Inventory System [L?63, LO 6-5] /The following information applies to the questions displayed below Inventory at the beginning of the year cost $12,800. During the year, the company purchased (on account) nventory costing $81,000 Inventory that had cost $77000 was sold on account for $92,600 At the end of the year, Inventory was counted and its cost was determined to be $16,800

Explanation / Answer

a) Cost of goods sold :

b) Gross profit = 92600-77000 = 15600

Journal entry :

Beginning inventory 12800 Purchase 81000 Cost of goods available for sale 93800 Less: Ending inventory -16800 Cost of goods sold 77000

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