1. Beginning Inventory 2. Purchase 3. Cash Sale 4. Sale on Account 5. Purchase 6. Sale on Account 7. Purchase 8. Purchase 9. Cash Sale 10. Sale on Account 11. Purchase 12. Purchase 13. Sale on Account 14. Cash Sale SHOE INVENTORY PROBLEM C STUDENTS FIFO ONLY B STUDENTS FIFO AND LIFO A STUDENTS FIFO, LIFO & WA 1,500 Pairs @ $20 each 1,000 pairs @ $25 each 900 pairs @ $50 each 1,200 pairs @ $50 each 2,000 @ $15 each 800 pairs @ $50 each 1,200 pairs @ $20 each 1,600 pairs @ $30 each 2,000 pairs @ $50 1,800 pairs @ $50 2,500 pairs @ 20 each 900 pairs @ $25 each 1,500 pairs @ $50 each 2,000 pairs @ $50 GROSS PROFIT Sales Less Cogs FIFO LIFO WA Gross Profit Explain the reason why the gross profit for WA is located between the FIFO and LIFO gross profits. ACCOUNTS FIFO FIFO LIFO LIFO WA WA LIFO DEBIT CREDIT DEBIT DEBIT DEBIT CREDIT CREDIT