Chitwood, Inc. is a retailer of leather basketballs. Below is information concerning one of their specialty

product lines for the month of March, $2025.$

Date Transaction Quantity Price per unit Sales price

$03/01$ Beginning Inventory $350$ $ $32\mathrm{.}50$

$03/04$ Purchase $1,200$ $ $33\mathrm{.}50$

$03/10$ Purchase $600$ $ $33\mathrm{.}25$

$03/11$ Sale $1,000$ $ $50\mathrm{.}00$

$03/15$ Purchase $750$ $ $35\mathrm{.}50$

$03/20$ Sale $1,500$ $ $52\mathrm{.}50$

$03/25$ Sale $150$ $ $51\mathrm{.}00$

$03/30$ Purchase $600$ $ $35\mathrm{.}75$

Required:

A$.$ Calculate the ending inventory, gross profit, and gross margin for the month using:

a$.$ LIFO, perpetual method

b$.$ Average cost, perpetual method

c$.$ FIFO, periodic method

d$.$ LIFO, periodic method