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Skysong Company sells one product. Presented below is information for January for Skysong Company. kysong...

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Accounting

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Skysong Company sells one product. Presented below is information for January for Skysong Company. kysong uses the FIFO cost flow assumption. All purchases and sales are on account. Jan4 Accounts Receivable 680 Sales Revenue Jan. 11 Purchases 1085 Accounts Payable Jan. 13 Accounts Receivable 1152 Sales Revenue 1152 Jan.20 Purchases 1211 Accounts Payable Jan.27 Accounts Receivable 1276 \begin{tabular}{|c|c|c|c|} \hline Jan.27 & Accounts Receivable & 1276 & \\ \hline & Sales Revenue & & 1276 \\ \hline \multirow[t]{4}{*}{Jan31} & Inventory & 735 & \\ \hline & Cost of Goods Sold & 2091 & \\ \hline & Purchases & & 2296 \\ \hline & Inventory & & 530 \\ \hline \end{tabular} Compute gross profit using the periodic system. Gross profit $

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