Date	Inventory
	Quantity	Unit Cost	Total Cost
Mar. 1	850	$98.00	$83,300
	1,275	95.00	121,125
Mar. 8	650	98.00	63,700
Mar. 11	325	98.00	31,850
Mar. 14	325	98.00	31,850
	780	103.00	80,340
Mar. 22	260	98.00	25,480
Mar. 25	260	98.00	25,480
	1,600	99.00	158,400

Study the inventory record for March and answer the questions that follow.

1.	Assuming that the product sells for $165 and that 70% of sales are on account, determine the gross profit from sales for March.
2.	Making the same assumptions as in (1), determine the ending inventory cost for March.
3.	Which inventory method is being used?