a) calculate the ending inventory value under the FIFO, LIFO, And weighted average.

b) calculate the gross profit for each of the inventory methods

The following is the inventory record of widgets for the ABC Company Units Cost/Unit 1-Jan Beginning Inventory 100 $ 10.00 15-Apr Purchase 200 $ 11.00 24-Aug Purchase 300 $ 12.00 27-Nov Purchase 400 $ 13.00 At the end of the fiscal year, the physical inventory found 450 widgets on hand at 12/31. Total sales for the year were 500 widgets sold at a retail price of $20.00 per widget Required: (a) Calculate the endign inventory value under FIFO, LIFO and Weighted Average. (b) Calculate the gross profit for each of the inventory methods. Step 1 PP- Total Cost Units 1-Jan 15-Apr 24-Aug 27-Nov Goods Available for Ending Inventory Units remaining in Inventory Units remaining in Inventory Goods Available for Sale Ending Inventory Cost of Goods Sold Sales COGS Gross Profit