A grocery store buys Italian gelato from different suppliers and sells the desserts to its customers for $5 per pint. In September, the following purchases and sales occurred. You are to find the COGS, ending inventory and Gross Margin using FIFO and LIFO.

• September 2, purchase 30 pints at $2.50 each
• September 6, purchase 20 pints at $3 each
• September 20, purchase 25 pints at $4 each
• September 5-8, sell 10 pints to customers
• September 9-19, sell 20 pints
• September 21- 30, sell 35 pints

These interactions count as class participation active and meaningful participation may be counted as extra credit. The prompts are part of your graded work you are required to post answers to 5 chapter prompts over the course of this class.