Inventory problem:

Strand Corp has the following information:

Beginning Inventory- 2,000 units @ $20/unit

Purchased- 3,000 units @ $25/unit

Purchased- 1,500 units @ $30/unit

Sold- 4,400 units for $50/each

REQUIRED: for FIFO, LIFO and Weighted Average:

1. Calculate the value of Ending Inventory
2. Calculate and show the schedule for Cost of Goods Sold
3. Calculate and show the schedule for Gross Profit
4. Calculate and show the Gross Profit Percentage (carry out at least 1 decimal place)