16.(6 points) The following pertain to the cost of H's only inventory item:

Inventory on hand, January 10 units

Purchases, January 275 units @ $14 per unit

Purchases, January 1295 units @ $16 per unit

Purchases, January 1635 units @ $17 per unit

Purchases, January 2040 units @ $19 per unit

Purchases, January 2615units @ $20 per unit

260

Sales during January totaled 210 units. Each unit sold for $50.

Calculate COGS AND GP for January AND EI as of 01-31 under the following assumptions:

H uses periodic LIFO

EI:

COGS:

Gross profit:

H uses periodic FIFO

EI:

COGS:

Gross profit:

H uses a weighted average method and rounds the unit cost to the nearest penny.

EI:

COGS:

Gross profit:

Make sure that the sum of your COGS AND EI answers add up to 100% of your COGAS.