orynomework Problem #1 (Due: Friday, March 23, 2018) Name: Class Time: Easter Eggs, Inc. specializes in decorative eges sold by the case (each case is a unit of inventory). The following information was taken from the Company's inventory records for the year ended April 30.2016. Units YalueUnitTotal $14.00 Beginning Inventory- 4/30/15 Purchase 1-625/15 Purchase 2-3/15/16 Purchase 3-4/2/16 Ending Inventory-4/30/16 S 770,000 s 1,125,000 S 2,400,000 s 595,000 $5,000 $ 75,000$15.00 150,000 $16.00 35,000 $17.00 Calculate the required amounts and fill in the table below: Sales (in units): Goods Available for Sale (units): Goods Available for Sale (S): Ending Inventory FIFO LIFO Weighted Average The sales price was $20 per unit. Calculate the gross margins for Easter Eggs Inc. using FIFO and LIFO. FIFO LIFO Sales Cost of Goods Sold Gross Margin What is the LIFO reserve at 4/30/16? What is inventory profit at 4/30/16