Suppose a Jones store in Dearborne, Missouri, ended January 2018 with 750,000 units of merchandise that cost $4 each. Suppose the store then sold 100,000 units for $750,000 during February. Further, assume the store made two large purchases during February as follows: B (Click the icon to view the purchase information.) Read the requirements. - X Data Table Requirement 1. Calculate the store's gross profit under both FIFO and LIFO at February 28. FIFO LIFO Feb 12 $ 115,500 55,000 units @ $2.10 30,000 units @ $1.20 25 $ 36,000 Gross profit Requirements 1. Calculate the store's gross profit under both FIFO and LIFO at February 28. 2. What caused the FIFO and LIFO gross profit figures to differ? Choose from any list or enter any number in the input fields and then click Check Answer. Print Done 1 part Answer remaining