Camp Surplus began March 2018 with 80 stoves that cost $10 each. During the month, the company made the following purchases at cost: E (Click the icon to view the purchases.) The company sold 252 stoves, and at March 31, the ending inventory consisted of 48 stoves. The sales price of each stove was $47. Read the reguirements. Determine the cost of goods sold and ending inventory amounts for March under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar. Number of units Average cost Cost of goods sold O Requirements Ending inventory 1. Determine the cost of goods sold and ending inventory amounts for March under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest O Data Table dollar. 2. Explain why cost of goods sold is highest under LIFO. Be specific. March 90 stoves @ $20 = $ 1,800 3. Prepare the Camp Surplus income statement for March. Report gross profit. Operating expenses totaled $3,750. The company uses average costing for inventory. The income tax rate is 30%. 18 100 stoves @ $25 = 2,500 26 30 stoves @ $30 = 900 Print Done Print Done