4 (1) Inventory o Beginning inventory (1/1/19): 500 units @ $2.00 o Purchase of inventory (1/14/19): 300 units @ $3.00 o Sale of inventory: 1/15/19: 300 units 1/16/19: 250 units o Total Sales Revenue = $2,250 Q1. Using the information above, 

compute COGS, Ending Inventory and Gross Profit under FIFO, LIFO, and Weighted average: (2) PP