QUESTION 3 Smith Company had the following purchases and inventory levels during September. Use this data to calculate the cost of the ending inventory on the September 30 balance sheet using the weighted average inventory cost flow method. September 1 September 10 September 20 September 30 $825 Beginning Inventory Purchase Purchase Ending Inventory 15 units at $20 each 20 units at $25 each 25 units at $28 each 30 units $750 $675 $600 QUESTION 4 Assume Smith Company sells its inventory for $30 per unit and sold 50 units, on terms of 1%/10, net 30. If the company uses LIFO and has cost of goods sold expense of $825, what is the gross profit percentage (be sure to consider the sales discount to calculate net sales)? 44.4% 45% 44% 45.5%