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Pier3 Corporations 2023 inventory purchases and sales are as follows: Purchases: Beginning Inventory 50 units @ $100 per unit Purchase 1 on 2/1/23 25 units

Pier3 Corporations 2023 inventory purchases and sales are as follows:

Purchases:
Beginning Inventory 50 units @ $100 per unit
Purchase 1 on 2/1/23 25 units @ $105 per unit
Purchase 2 on 6/15/23 25 units @ $110 per unit
Sales:
Sale 1 on 3/12/23 40 units @ $400 per unit
Sale 2 on 10/15/23 30 units @ $410 per unit

Compute Ending Inventory, Sales, COGS, and Gross Margin under each of the inventory cost flow assumptions and fill in your answers on the table below. Pier3 uses PERIODIC inventory tracking.

FIFO Weighted Average LIFO
Ending Inventory
Sales
Cost of Goods Sold
Gross Margin

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