Solve the Number 1, 2, and 3 questions.

2. During January, Lexington Company used a perpetual inventory system and had beginning inventory, purchases, and sales as follows: Units Cost Beginning inventory Jan 5 purchase 10 sale Per Unit $24 $26 1000 S20 400 600 700 15 purchase 25 sale 500 1. Calculate the dollar value of ending inventory and cost of goods sold using: a. FIFO b. Moving weighted average Prepare the journal entries to record the transactions. price is $40 per unit. Calculate the Gross Profit using your calculations for part 1 & 2. Assume that the selling 2. 3. Page 1