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Assume That Three Identical Units of Merchandise Are Purchased During

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Assume that three identical units of merchandise are purchased during October, as follows:
 Units  Cost  October 5 Purchase 1$512 Purchase 11328 Purchase 115 Total 3$33\begin{array} { | l | c | c | c | c | } \hline & & & \text { Units } & \text { Cost } \\\hline \text { October } & 5 & \text { Purchase } & 1 & \$ 5 \\\hline & 12 & \text { Purchase } & 1 & 13 \\\hline & 28 & \text { Purchase } & \underline { 1 } & \underline { 15 } \\\hline \text { Total } & & & \underline { 3 } & \underline { \$ 33 } \\\hline\end{array}
Assume one unit is sold on October 31 for $28. Determine cost of goods sold, gross profit, and ending inventory under the FIFO method.

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Definitions:

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A psychological condition in which an individual feels a lack of worth and doubts their abilities, often unfairly comparing themselves to others.

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