FIFO LTFO 15000 $70 Date Transaction Quantity Price/Cost 1-Jan Beginning Inventory 4,000 $20 1000 324 19-Apr...

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FIFO LTFO 15000 $70 Date Transaction Quantity Price/Cost 1-Jan Beginning Inventory 4,000 $20 1000 324 19-Apr Sale 2,500 $32 $0.046 1466 T25 1,500 1.600 30-Jun Purchase 6,000 $24 C $25 2-Sep 15-Nov Sale 4,500 $35 Purchase 1,000 $25 300 Compute the cost of goods sold; the ending inventory; and the gross profit assuming Brite Light uses: 1. First In, First Out FIFO LTFO 15000 $70 Date Transaction Quantity Price/Cost 1-Jan Beginning Inventory 4,000 $20 1000 324 19-Apr Sale 2,500 $32 $0.046 1466 T25 1,500 1.600 30-Jun Purchase 6,000 $24 C $25 2-Sep 15-Nov Sale 4,500 $35 Purchase 1,000 $25 300 Compute the cost of goods sold; the ending inventory; and the gross profit assuming Brite Light uses: 1. First In, First Out