hi, could you please explain the details of calculating fifo, lifo, and weighted average for this problem?

5 4015 Tompkins Company reports the following inventory record for November INVENTORY Date Activity of Units Cost/Unit November Beginning balance 135 $19 November 4 Purchase 20 November Sale (e $59 per unit) November 13 Purchase 510 November 22 Sale (e $59 per unit) 510 nit nces Selling, administrative, and depreciation expenses for the month were $15.500. Tompkins's effective tax rate is 40 percent Required: 1. Calculate the cost of ending Inventory and the cost of goods sold under each of the following methods using periodic Inventory system 2-o. What is the gross profit percentage under the FIFO method? 2-b. What is net income under the CIFO method? 3. Tompkins applied the lower of cost or market method to value its inventory for reporting purposes at the end of the month. Assuming Tompkins used the FIFO method and that inventory had a market replacement value of $18.10 per unit, what would Tompkins report on the balance sheet for inventory? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the cost of ending inventory and the cost of goods sold under each of the following methods using periodic inventory system: (Do not round intermediate calculations.) D BE 5 Required information 2-. what is net income under te LIFU methods 3. Tompkins applied the lower of cost or market method to valve its inventory for reporting purposes at the end of the month Assuming Tompkins used the FIFO method and that inventory had a market replacement value of $18:10 per unit, what would Tompkins report on the balance sheet for inventory? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Calculate the cost of ending Inventory and the cost of goods sold under each of the following methods using periodic inventory system: (Do not round intermediate calculations) Ending Inventory Cost of Goods Sold Firstin, trst out Last first out Weighted average Required 2 > Prev 5 6 of Next > 5 Required information 2-0. What is net income under their memor 3. Tompkins applied the lower of cost or market method to value its inventory for reporting purposes at the end of the month. Assuming Tompkins used the FIFO method and that inventory had a market replacement value of $18.10 per unit, what would Tompkins report on the balance sheet for inventory? art 4 of 5 . Complete this question by entering your answers in the tabs below. Required: Required 2 Required) Print a. What is the gross profit percentage under the FIFO method? (Round your percentage answer to 2 decimal places de 0.12.14 should be entered as 12.14) ) b. What is net income under the LIFO method 2a Grow profi percentage under FIFO 2-b. Not income under UFO 5 Required information system 2-o. What is the gross profit percentage under the FIFO method? 2-b. What is net income under the LIFO method? 3. Tompkins applied the lower of cost or market method to value its inventory for reporting purposes at the end of the month Assuming Tompkins used the FIFO method and that inventory had a market replacement value of $18.10 per unit, what would Tompkins report on the balance sheet for inventory? Complete this question by entering your answers in the tabs below. Pin Required 1 Required Required ce Tompkins applied the lower of cost or market method to value its inventory for reporting purposes at the end of the month Assuming Tompkins used the FIFO method and that inventory had a market replacement value of $18.10 per unit, what would Tompkins report on the balance sheet for inventory? Cost of ending inventory Required 2