including the optional

During 2021, Arch Company sells 800 units of inventory for $50 each. The company has the following inventory transactions for 2021: Date Transaction Number of Units Unit Cost January Beginning Inventory 360 $ 29 May 5 Purchase 280 $32 November 3 Purchase 290 $ 33 Using the LIFO inventory costing method determine the following at year end. Clearly label and show calculations for full credit! No calculations = No credit. A) Value of Ending Inventory B) Cost of Goods Sold C) Gross Profit Optional Extra Credit: Maximum Points = 6 Using the FIFO inventory costing method determine the following at year end. Clearly label and show calculations for full credit! No calculations = No credit. D) Value of Ending Inventory E) Cost of Goods Sold