and 8 Precious Stores has the following information available for 2017 when Precious sold 50 units of inventory. nventory, December 1 Purchases, December 8 Units 100 200 Cost $150 $275 Total Cost 15,000 55,000 Total 300 70,000 a. Use the Fifo method and calculate cost of goods sold and ending inventory for December 31. b. Use the Lifo method and calculate cost of goods sold and ending inventory for December 31. The 50 units were sold on December 5 1. Assume periodic inventory 2. Asume perpetual inventory Supply Company uses the gross p rofit method to e ollowing information, calculate Ro