Brandon Bagel Co sells bagel makers and uses a periodic Inventory approach The PX4015 Brand is one of the bagel makers itsells and this brand had the following beginning inventory purchase, and sales story for the current year Number of Cost per Total Bagel Makers Bagel Maker Bagel Maker Cost $142 00 $1,13600 $152.00 = $1.824.00 10 $158.00 = $1,580.00 $160.00 - $1.500.00 $6.140.00 January 1 inventory July 16 purchases November 8 purchases November 20 purchases Available for sale 12 9 November 22 sales December 31 Inventory The selling price of the printer was $210 QUESTION 1 Determine cost of goods sold for the year ended December 31 if the LIFO cost flow assumption is used QUESTION 2 Determine ending inventory as of December 31 if the LIFO cost flow assumption is used QUESTION 3 Determine gross profit for the year ended December 31 if LIFO cost flow assumption is used QUESTION 4 Determine cost of goods sold for the year ended December 31 if the FIFO cost flow assumption is used QUESTION 5 Determine ending inventory as of December 31 If FIFO cost flow assumption is used. QUESTION 6 Determine gross profit for the year ended December 31 if the FIFO cost flow assumption is used. QUESTION 7 Determine cost of goods sold for the year ended December 31 If the Weighted Average cost flow assumption is used. QUESTION 8 Determine ending inventory for the year ended December 31 if the Weighted Average cost flow assumption is used. QUESTION 9 Determine gross profit for the year ended December 31 if the Weighted Average cost flow assumption is used. QUESTION 10 For a company that uses US GAAP, in a period of rising prices, the Inventory cost flow assumption that results in the highest gross profit is a FIFO b. LIFO Weighted Average