L B C D J 1 Below is information related to inventory purchases and sales of lawn mowers for Diamond Hardware 2 Store. Diamond Hardware uses the periodic inventory systems. 3 4 Beginning Inventory - 50 lawn mowers for $180 each 5 1-Mar Purchased 100 lawn mowers for $200 each 6 7-Apr Purchased 120 lawn mowers for $210 each 7 15-Apr Sold 130 lawn mowers for $450 each 8 5-May Purchased 75 lawn mowers for $225 each 9 25-May Sold 110 lawn mowers for $450 each 10 11 1. Calculate the cost of Goods Available for Sale, Units Sold and Ending Inventory Units and Weighted Average Cost 12 13 14 15 16 17 18 19 20 21 2. Calculate Cost of Goods Sold under FIFO, LIFO and Average Cost. Show units, unit costs and total cost for FIFO and LIFO 22 FIFO LIFO Average Cost 23 24 25 26 27 28 29 30 31 32 33 34 35 3. Calculate Ending Inventory Costs Under FIFO, LIFO and Average Cost. Show units, unit costs and total costs for FIFO and LIFO 36 FIFO LIFO Average Cost 37 38 39 40 41 42 43 4. Calculate Gross Profit under FIFO, LIFO and Average Cost. 44 FIFO LIFO Average Cost 45 46 47 48 49 50 in a period of rising prices, which cost flow inventory method results in the highest ending inventory? 51 In a period of rising prices, which cost flow inventory method results in the highest cost of goods sold? 52 Calculate the inventory turnover for Diamond Hardware (use FIFO numbers). 53 54 Calculate the days in inventory for Diamond Hardware (use FIFO numbers). 55 56 57 58