Inventory on Jan. 1, 25 units at $500 each

Inventory purchased on May 1, 20 units at $550 each

Inventory purchased on Oct. 1, 25 units at $600 each

Total goods available for sale, 70 units totaling $38,500

If 30 units are sold at a price of $850 each, what will the DIFFERENCE in ending inventory and gross profit if the firms uses LIFO rather than FIFO?

Assume that the following reflects the inventory records of a company: Inventory on lan. 1 25 units at $500 each Inventory purchased on May 1 20 units at $550 each Inventory purchased on Oct. 1 25 units at $600 each Total Goods Available for Sale 70 units totaling $ 18,500 if 30 units are sold at a price of $250 each, what will be the DIFFERENCE in ending inventory and gross profit if the firm uses UFO rather than FIFO OA $2500 in ending twentory and gross proht $2500 $2750 in ending inventory and gross profit $2750 OC $2750 in ending inventory and gross profit $2500 OD $2500 in ending inventory and gross profit $2750 O E $3000 in ending inventory and gross profit 53000