Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO?Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO?

Gross Profit (FIFO)

$enter the Gross Profit (FIFO) in dollars

show working, please.

Inventory information for Part 311 of Vaughn Corp.discloses the following information for the month of June. June 1 Balance 297 units @ $14 June 10 Sold 204 units @ $35 11 Purchased 603 units@ $17 15 Sold 497 units @ $36 20 Purchased 505 units $19 27 Sold 296 units @ $39 (a) Your answer is correct Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under 11) LIFO and (2) FIFO. (1) LIFO (2) FIFO Cost of Goods Sold $ 17059 $ 18058 Ending Inventory $ 0445 $ 11346 eTextbook and Media Attempts: 1 of 3 used (b) Your answer is correct Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO? The ending inventory at LIFO $ 10475 eTextbook and Media Attempts: 1 of 3 used