Determining Lower of Cost or Net Realizable Value $($NRV$)$fuel$,$ cost is determined through the use of the first$-$in$,$ first$-$out $($FIFO$)$ method. For merchandise

inventories, cost is determined through the use of the last$-$in$,$ first$-$out $($LIFO$)$ method. The excess of

replacement cost over the stated LIFO value was $$87,546$ and $$80,814$ at April $30,2020$ and $2019,$

respectively. There were no material LIFO liquidations during the period presented. Below is a

summary of the inventory values at April $30,2020$ and $2019.$

In $2020,$ Casey's General Stores reported sales revenue of $$9,175\mathrm{.}3$ million and cost of goods sold of

$$7,030\mathrm{.}6$ million.

a$.$ Calculate the amount of inventories purchased by Casey's General Stores in $2020.$ Round

intermediate calculations and answers to one decimal place.

$

million.

b$.$ What amount of gross profit would Casey's General Stores have reported if the FIFO method had

been used to value all inventories in $2020.$ Round intermediate calculations and answer to one

decimal place.

The following data refer to Froning Company's ending inventory.

Determine the ending inventory amount by applying the lower of cost or net realizable value rule to:

$($a$)$ each item of inventory

$

$($b$)$ the total inventory.

$