a company just starting business made the following four inventory purchases in june:

June 1 160 units ($2.00) $320

June 10 220 units ($2.50) $550

June 15 180 units ($3.00) $540

June 28 170 units ($3.50) $595

1. 1. A company just starting business made the following four inventory purchases in June: June 160 units ($2.00) $ 320 June 220 units ($2.50 June 180 units ($3.00) 540 June 170 units ($3.50) 595 550 $2,005 A physical count of merchandise inventory on June 30 reveals that there are 230 units on hand. a. SHOW WORK- Calculate the amount allocated to ending inventory as of June 30 using: a. FIFO b. LIFO C. Weighted Average b. SHOW WORK - Calculate the amount allocated to cost of goods sold for the month of June using a. FIFO b. LIFO c. Weighted Average c. Which inventory method results in the highest gross profit for June 2. The following information is available for Manning Company Beginning inventory$ 120,000Cost of goods sold 550,000Ending inventory 140,000Sales 750,000 Instructions SHOW WORK - Compute each of the following: (a) Inventory turnover (b) Days in inventory (C) EXPLAIN WHAT THESE RATIOS MEAN IN WORDS