A Sports outlet store began in August 2021 with 42 pairs of running shoes that cost the store $31 each. The sales price of these shoes was $63. During August, the store completed these inventory transactions.

unitsunit costunit sales priceAug 2sale16$3163Aug 9purchase81$33Aug 13sale263163Aug 18sale133364Aug 22sale363364Aug 29purchase1835

1. the data above were taken from the store's inventory records. which cost method does the stores use?
2. determine the store's cost of goods sold for August and also compute gross profit for August.
3. what is the cost of the store's August 31 inventory of running shoes?