Rent-a-Part, Inc., sells electronic merchandise, including a personal computer offered for the
first time in September, which retails for $2,085. Sales of this personal computer for the next
six month period (ending February 28) totaled $156,375. Purchase records indicate the
following on the amounts purchased and the prices paid by Rent-a-Part, Inc:
Purchase Date			Units			Cost Per Unit
9/10			12			1,110
10/15			20			1,125
11/2			32			1,080
12/10			11			1,050
2/3			10			1,005
Required
a) Prepare a statement for this personal computer showing its gross margin for the 6 month
period ending February 28 using the periodic FIFO, weighted average cost, and LIFO inventory
valuation methods.
b) What was the gross margin percentage earned on the $156,375 sales of this personal
computer under each of the inventory valuation methods?