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Izzy Company had the following inventory transactions for 2021 : Beg inventory 100 units@ $10 Purchase 5/1150 units@ $11 Purchase 10/1 200 units@ $12 Ending

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Izzy Company had the following inventory transactions for 2021 : Beg inventory 100 units@ \$10 Purchase 5/1150 units@ \$11 Purchase 10/1 200 units@ $12 Ending Inventory on hand 110 units Also, Izzy had two transactions to consider: (1) Purchase of 100 units on 12/28 for $13. The goods were purchased on account, FOB shipping point. The goods were shipped on 12/28/2021 and arrived on 1/3/2022. (2) Sale of 50 units on 12/29, sold on account for $20 each. The goods were sold FOB shipping point. The goods were shipped on 12/29/2021 and arrived on 1/5/2022. What was ending Inventory for FIFO? If the inventory was sold for the year for $100,000, what was gross profit if Izzy used LIFO

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