"Steel Mill began August w/ 50 units of iron inventory that cost $35 each. During August, the company completed the following inventory transactions"

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Requirement 4. Detemine the company's cost of goods sold for August using FIFO, LIFO, and weighted-average inventory costing methods. The cost of goods sold amount for August using FIFO imventory costing is The cost of goods sold amount for August using LIFO inventory costing is The cost of goods sold amount for August using weighted-average inventory costing is Requirement 5. Compute gross profit for August using FIFO, LFO, and weighted-average inventory costing methods. Requirement 6. If the business wanted to maximize gross profit, which method would it select? If the business wanted to maximize gross profit, it would select the method. Data table