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Patti Devine owns Devine Decorating. One of her most popular items is the Remind-a-Chime digital clock. This programmable clock issues voice-based reminders of important events

Patti Devine owns Devine Decorating. One of her most popular items is the Remind-a-Chime digital clock. This programmable clock issues "voice-based" reminders of important events like birthdays, anniversaries, etc. Following is the Remind-a-Chime inventory activity for January. The clocks on hand at January 1 had a unit cost of $140.

Date Purchases Sales Amt on Hand
1 Jan 40
5 Jan 60 units @ $150 each 100
16 Jan 70 units @ $255 each 30
23 Jan 90 units @ $170 each 120
28 Jan 55 units @ $295 each 65

(a) If Devine uses the first-in, first-out (FIFO) inventory method (periodic approach), what values would be assigned to ending inventory and cost of goods sold? How much is gross profit? (b) If Devine uses the last-in, first-out (LIFO) inventory method (periodic approach), what values would be assigned to ending inventory and cost of goods sold? How much is gross profit? (c) If Devine uses the weighted-average inventory method (periodic approach), what values would be assigned to ending inventory and cost of goods sold? How much is gros

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