Problem #3: Strand Corp has the following information: Beginning Inventory- 10,000 units @ $20/unit Purchased- 30,000 units @ $25/unit Purchased 15,000 units @ $30/unit Sold- 44,000 units for $50/each REQUIRED: for FIFO, LIFO and Weighted Average: 1) Calculate the value of Ending Inventory (12pts) 2) Calculate and show the schedule for Cost of Goods Sold (15pts) 3) Calculate and show the schedule for Gross Profit (9pts) 4) Calculate and show the Gross Profit Percentage (6pts) 5) What inventory valuation method would you suggest using and why? (3pts) 6) Identify some ways a co can improve their gross profit (4pts)