Beginning inventory and purchases for September for Crowley Co. are shown below. Also, the company sold 1,600 units during the month at a price of $120 per unit.

Beginning inventory and purchases for September for Crowley Co. are shown below. Also, the company sold 1,600 units during the month at a price of $120 per unit. Date Quantity Unit price Beginning inv. 300 $64 Sept. 2 800 $69 Sept. 11 650 $73 Sept. 24 700 $89 Sept. 26 400 $92 (1) Assume a periodic inventory system. Calculate the amount of ending inventory and cost of goods sold under each of the following cost flow methods. Ending Inventory Cost of Goods Sold a. FIFO b. LIFO c. Average (2) Assume instead a perpetual inventory system. The sale of 1,600 units was on Sept. 25. Compute the amount of cost of goods sold under each of the following cost flow methods. Cost of Goods Sold d. FIFO LIFO f. Average e. (3) Assume that the company uses the FIFO Periodic inventory method. Calculate the amount of gross margin (also known as gross profit) for the month