March Inventory Information March 1 March 7 March 11 March 12 Beg. Inventory Purchased Sold Purchased 20 units at a cost of $2 each 45 units at a cost of $3 each 25 units at a selling price of $7 each 20 units at a cost of $4 each There were no units lost or stolen during March. The company uses the periodic method for inventory. Using the FIFO inventory method, calculate: a. Cost of Goods Sold b. Ending Inventory c. Gross Profit d. Record the general journal entry for the units sold in March Using the LIFO inventory method, calculate: a. Cost of Goods Sold b. Ending Inventory c. Gross Profit d. Record the general journal entry for the units sold in March Using the Average Cost inventory method, calculate: a. Cost of Goods Sold b. Ending Inventory c. Gross Profit d. Record the general journal entry for the units sold in March