1. Determine the gross profit for each year under each of the following methods assuming a periodic inventory system is used:

Please help answer the weighted average section of the problem. All of the other answers posted here on chegg for this question are incorrect.

Alternative Inventory Methods Habicht Company was formed in 2015 to produce a single product. The production and sales for the next 4 years were as follows: Production Sales Total Sales Units in Ending Units Costs Units Revenue Inventory 2015 100,000 $400,000 20,000 $200,000 80,000 234,000 110,000 2016 120,000 550,000 30,000 2017 130,000 247,000 150,000 750,000 10,000 2018 130,000 240,500 120,000 600,000 20,000 Required: 1. Determine the gross profit for each year under each of the following methods assuming a periodic inventory system is used: 2015 2016 2017 2018 a. FIFO (Round unit costs to 2 decimal places, if required.) 240,000 $ 334,500 $ 463,500 S 377,500 b. LIFO (Round unit costs to 2 decimal places, if required.) 240,000 335,500 463,500 $ 378,000 C. Weighted Average (Round unit costs to 3 decimal places and your final answers to the nearest dollar) $ 240,000 $ $