Date	Activities	Units Acquired at Cost			Units Sold at Retail
January 1	Beginning inventory	630	units	@ $50 per unit
February 10	Purchase	370	units	@ $46 per unit
March 13	Purchase	100	units	@ $34 per unit
March 15	Sales				740	units	@ $75 per unit
August 21	Purchase	160	units	@ $55 per unit
September 5	Purchase	520	units	@ $51 per unit
September 10	Sales				680	units	@ $75 per unit
	Totals	1,780	units		1,420	units

Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places.)

	FIFO	LIFO	Weighted Average	Specific Identification
Sales
Less: Cost of goods sold
Gross profit	$	$	$	$

5. The companys manager earns a bonus based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager?

multiple choice

A. Weighted Average

B. LIFO

C. FIFO

D. Specific Identification