INVENTORY COSTING METHODS. The inventory accounting records for Lee gt#

Enterprises contained the following data:

Assume that Lee uses a periodic inventory accounting system.
REQUIRED:
Prepare income statements through gross margin using the FIFO, LIFO, weighted average, and specific identification methods. For the specific identification method, assume that the ending inventory is composed of 100 units from beginning inventory, 100 units from purchase 1, and 100 units from purchase 2

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Beginning inventory Purchase 1, 2/26 Sale, 3/9 ($27 each) Purchase 2, 6/14 Sale, 9/22 ($29 each) 400 units at $12 each 2,300 units at $14 each 2,500 units 2,200 units at $15 each 2,100 units