feedback. Widget Tek Inc.'s original accountant accepted a position with another firm and left in early March. You have been asked to review the subsidiary inventory ledger record for Widget Tek Inc.'s main product for March. Date Mar. 1 Mar. 8 Mar. 11 Mar. 14 Mar. 22 Mar. 25 Quantity 850 1,275 650 325 325 780 260 260 1,900 Inventory Unit Cost Total Cost $98.00 $95.00 $98.00 $98.00 $98.00 $103.00 $98.00 $98.00 $100.00 $83,300 $121,125 $63,700 $31,850 $31,850 $80,340 $25,480 $25,480 $190,000 Study the inventory record for March and answer the questions that follow. 1. Assuming that the product sells for $170 and that 80% of sales are on account, determine the gross profit from sales for March. $ 2. Making the same assumptions as in (1), determine the ending inventory cost for March. $ 3. Which inventory method is being used? LIFO Pointe