Copley Company had the following inventory transactions occur during Year 1, its first year of operations: Date 2/1 Purchase 3/14 Purchase 5/1 Purchase 6/1 Sale Units 10 27 Cost per Unit $42 $46 22 $57 (53) 6 End Balance Copley Company sells units for $140 each. What is Copley Company's gross profit (margin) using LIFO? (rounded to the nearest whole dollar) $4,756 $7,420 $4,846 $4,780 $4,794 What is Copley Company's ending inventory balance using FIFO? (rounded to the nearest whole dollar) $342 $276 $252 $290