25. Inventory Costing Methods (LO 5.2) The following schedule summarizes the inventory pur- chases and sales of Brooks Street Enterprises during January 2009: Per Unit Cost $40 Per Unit Selling Price # of Units 400 200 300 BI Jan. 2 purchase Jan. 5 sale Jan. 9 purchase Jan. 14 sale Jan. 18 purchase Jan. 21 sale Jan. 25 purchase Jan. 31 sale 200 350 200 150 500 450 100 Required: (a) Determine Brooks Street's ending inventory, cost of goods sold, and gross profit for January 2009, assuming the company uses a perpetual inven- tory system and the following inventory costing methods: (1) FIFO, (2) LIFO, and (3) moving- average. (b) Which of the three inventory costing methods yields the most impressive financial results for Brooks Street? Explain. What factors should a company consider when choosing an inventory costing method? Should one of these factors be the inventory cost- ing method preferred by the decision mak- ers who will be using the company's financial statements? Ch 5 P25 Ch 5 P25 Second Part After solving part (a) What is the absolute value difference between the gross profit using Moving Average and the gross profit using LIFO? (round to the nearest whole dollar) $1,900 O $1,042 $942 O $1,575