inventory method

Bread Loves Butter Inc. uses a perpetual inventory system. The company's beginning inventory of the love pills product and its purchases during the month of October were as follows:

QuantityUnit CostTotal CostBeginning inventory (Oct2)20$ 10$ 200Purchase (Oct10)308240Purchase (Oct18)2020400Total70$ 840On October12, Bread loves Butter Inc. sold 42units of this product for $24.00, part cash and part credit. A. Make the journal entry necessary using the following methods.FIFOII.LIFOIII.Average costIV.Specific identification (15of the products were from Oct. 2and the other 27were from Oct. 10)B.Compute the ending Inventory for each methodC.Compute the Gross profit and rank the methods from highest to lowest