Assume an outlet of The Tilton's StoreTilton's Store began March 2017 with 46 pairs of running shoes that cost the store $33 each. The sale price of these shoes was $70.

During March, the store completed these inventory transactions:

Requirement 2a. How would your answer change under FIFO if the periodic system was used? Begin by calculating the cost of goods sold using the FIFO method. (Round your answers to the nearest whole dollar.) The cost of goods sold is $ . i Inventory transactions Now, calculate the gross profit using the FIFO method under the periodic system. (Round your answers to the nearest whole dollar.) Unit Cost The gross profit is $0 Calculate the ending inventory using the FIFO method under the periodic system. (Round your answers to the nearest whole dollar.) The ending inventory at March is $ . Units 13 Unit Sale Price $ 70 Requirement 2b. How would your answer change under weighted average cost if the periodic system was used? 3 Sale ............ 8 Purchase 11 Sale ......... 19 Sale .......... 24 Sale 30 Purchase .......... Calculate the cost of goods sold using the weighted average-cost method if the periodic system was used. (Round interim calculations to the The cost of goods sold is $ . 35 Calculate the gross profit using the weighted average-cost method under the periodic system. (Round your answers to the nearest whole dd The gross profit is $0. Print Done Calculate the ending inventory using the weighted average-cost method under the periodic system. (Round your answers to the nearest whd The ending inventory at March is $