Question 1 Inventory information for Part 311 of Crane Corp. discloses the following information for the month of June. June 1 Balance 302 units $15 June 10 Sold 200 units@ $35 11 Purchased 796 units @ $18 20 Purchased 501 units $19 15 Sold 499 units$37 27 Sold 301 units @ $40 Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. LIFO Cost of Goods Sold Ending Inventory Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO? The ending inventory at LIFO Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO? Gross Profit (IFO