Date Activities Units Acquired at Cost Units Sold at Retail January 1 January 10 Beginning inventory Sales 245 units @ $11.80 = $ 2,891 190 units @ $41.80 March 14 Purchase 390 units @ $16.80 = 6,552 March 15 Sales 350 units @ $41.80 July 30 Purchase October 5 Sales October 26 Purchase Totals 445 units @ $21.80 = 145 units @ $26.80 - 1,225 units 9,701 430 units @ $41.80 3,886 $ 23,030 970 units xercise 5-10A (Algo) Periodic: Inventory costing LO P3 emming uses a periodic inventory system. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Compute the gross profit for each method. ) Periodic FIFO Beginning inventory Purchases: March 14 July 30 October 26 Total b) Periodic LIFO Beginning inventory Purchases: March 14 July 30 October 26 Total Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory $ 0 0 0 $ Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods # of units Cost per unit # of units sold Cost per unit Available for Sale Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory c) Gross profit FIFO LIFO 0 0 0 $