Blue Bird Corporation has the following inventory items and costs for the month. 1 unit purchased Jan 15 at a cost of $50. 1 unit purchased Jan 20 at a cost of $54. 1 unit purchased Jan 24 at a cost of $56 On January 26, the company sold 2 units for $70 each. The company uses the LIFO (Last In First Out) inventory method. a. What is the Cost of Goods Sold for the month? $ b. What is Gross Margin for the month? $ c. What is ending inventory for the month? $

2. Framer Inc. has the following inventory items and costs for the month. 1 unit purchased Jan 15 at a cost of $60. 1 unit purchased Jan 20 at a cost of $45. 1 unit purchased Jan 24 at a cost of $54 On January 26, the company sold 2 units for $70 each. The company uses the Weighted Average inventory method. a. What is the Cost of Goods Sold for the month? $ b. What is Gross Margin for the month? $ c. What is ending inventory for the month? $