store supplies inventory Question 2 2 pts A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $65; Second purchase $78; Third purchase $68. If the company sold two units for a total of $200 and used FIFO costing, the gross profit for the period would be $55 $57 O O $62 O $68 Question 3 2 pts At May 1, 2016, Bibby Company had beginning