sing the following information, calculate gross profit and ending inventory using 1) FIFO, 2) LIFO, and 3) weighted average cost methods under an inventory system that uses specific identification. The company sold 2 units for $50 each on August 27th. Date Units Cost/unit Total Cost Aug. 10th Purchase 2 $11 $22 12th Purchase 2 $15 $30 14th Purchase 2 $22 $44 Total 6 $96.