1. Mina deals in drone of the same make and model. At the commencement of the year she held 1,000 units purchased for $100 each. She sells each unit for $300. Her sales in the year amounted to $450,000. She purchased 1,000 units for $150 each during the year. Ascertain the cost of goods sold on each cost flow assumption.

1. FIFO = $75,000; LIFO = $50,000
2. FIFO = $175,000; LIFO = $200,000
3. FIFO = $200,000; LIFO = $175,000
4. FIFO = $187,500; LIFO = $187,500