Habicht Company was formed in 2018 to produce a single product. The production and sales for the next 4 years were as follows: 2018 2019 2020 2021 Required: Production Units Total Costs 100,000 $200,000 80,000 $400,000 120,000 234,000 110,000 550,000 130,000 247,000 150,000 750,000 130,000 240,500 120,000 600,000 a. FIFO (Round unit costs to 2 decimal places, if required.) Sales Sales Units Revenue b. LIFO (Round unit costs to 2 decimal places, if required.) 1. Determine the gross profit for each year under each of the following periodic inventory methods: c. Weighted Average (Round unit costs to 3 decimal places and your final answers to the nearest dollar.)* Units in Ending Inventory 20,000 30,000 10,000 20,000 2018 240,000 240,000 $ 2019 334,500 335,500 2. Which of the following statements about return on assets (ROA) is true in a period of rising prices? FIFO results in higher income and higher assets; therefore ROA will be higher under LIFO. W 2020 463,333 X 2021 1000

Habicht Compary was formed in 2018 to produce a single product. The production and sales for the next 4 years were as follows: Required: 1. Oeternine the gross profit for esch vear under each of the following penodic mventory metheds