Flying Tomato sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Flying Tomatos purchases of WhiteOut snowboards during September. On September 27th, 121 WhiteOut snowboards were sold at $170 each. Flying Tomato uses a perpetual inventory system.

Chapter 6 Application HW 10.5 points Flying Tomato sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts Presented below is information relating to Flying Tomato's purchases of WhiteOut snowboards during September. On September 27th, 121 WhiteOut snowboards were sold at $170 each. Flying Tomato uses a perpetual inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Totals Explanation Units Unit Cost Inventory 25 $ 101 Purchases 45 104 Purchases 24 110 Purchases 50 112 144 Total Cost $ 2,525 4,680 2,640 5,600 $ 15,445 Instructions: (a) Compute the ending inventory at September 30 and cost of goods sold as of September 27th using the Weighted Average, FIFO and LIFO methods. Please compute in the boxes below. 8 points (b) Calculate the Gross Profit for each method. Please compute in the boxes below. 1.5 points (c) Which method will pay the highest amount of tax. 1 point To earn partial credit please show your work in the boxes below. Ending Inventory 09/30/2022 Cost of Goods Sold 09/27/2022 Gross Profit Weighted Average FIFO LIFO