Goop, the lifestyle/trend brand founded and owned by Gwyneth Paltrow sells curated fashion, beauty and home items. One of her most popular Items is the Campo sneakers. These sneakers use Chrome-free leather- a light leather manufactured using a more energy efficient process. Following is the Campo sneakers inventory activity for January. At the end of January, Goop sold 70 units of the sneakers at $255 each, and another 55 units at $295 each. Cost/Unit 1-Jan Beg Inventory Date Units 40 140 5-Jan Purchases 60 150 23-Jan Purchases 90 170 (a) If Goop uses the first-in, first-out (FIFO) inventory method (periodic approach), what values would be assigned to ending Inventory and cost of goods sold? How much is gross profit? (Points: 8) FIFO Beginning inventory Plus: Purchases Cost of goods available for sale Less: Ending inventory Cost of goods sold How much is Gross Profit? (Show your calculation) Sales Cost of goods sold Gross profit (b) If Goop uses the last-in, first-out (LFO) inventory method (periodic approach), what values would be assigned to ending inventory and actor de and un much fit in How much is Gross Profit? (Show your calculation) Sales Cost of goods sold Gross profit (b) If Goop uses the last-in, first-out (LIFO) Inventory method (periodic approach), what values would be assigned to ending Inventory and cost of goods sold? How much is gross profit? (Points: 8) LIFO Beginning inventory Plus: Purchases Cost of goods available for sale Less: Ending inventory Cost of goods sold How much is Gross Profit? (Show your calculation) Sales Cost of goods sold Gross profit (c) If Goop uses the last in the weighted average cost method (periodic approach), what values would be assigned to ending inventory and cost of goods sold? How much is gross profit? (Points: 8) Weighted Average Beginning inventory Plus: Purchases Cost of goods available for sale Less: Ending inventory Cost of goods sold How much is Gross Profit? (Show your calculation) Sales Cost of goods sold Gross profit (c) If Goop uses the last-in, the weighted average cost method (periodic approach), what values would be assigned to ending inventory and cost of goods sold? How much is gross profit? (Points: 8) Weighted Average Beginning inventory Plus: Purchases Cost of goods available for sale Less: Ending inventory Cost of goods sold How much is Gross Profit? (Show your calculation) Sales Cost of goods sold Gross profit