Page 347 and 348 in the textbook as your guide. Ist purchase price = $20 2nd purchase price = $22 3rd purchase price = $27 Selling price = $40 Use FIFO to find: Gross profit and Ending Inventory. Use LIFO to find: Gross profit and Ending Inventory Use Weighted average to find: Gross profit and Ending inventory. Page 347 and 348 in the textbook as your guide. Ist purchase price = $20 2nd purchase price = $22 3rd purchase price = $27 Selling price = $40 Use FIFO to find: Gross profit and Ending Inventory. Use LIFO to find: Gross profit and Ending Inventory Use Weighted average to find: Gross profit and Ending inventory