Suppose a Waldorf store in Ellington, Missour, ended July 2016 with 500.000 units of merchandise that cost $6each Suppose the store then sold 110.000 units for 5740,000 during August. Further, assume the store made two large purchases during August as follows: Click the icon to view the purchase information Read the inte Requirement. Calculate the store's gross proft under both FIFO and LIFO at August 31 FIFO LIFO Data Table Orois pro Aug 40.000 54.10-S 65,000 $3,20 = $ 154.000 200.000 20 Print Done Requirements 1. Calculate the store's gross profit under both FIFO and LIFO Aug 31 2. What caused the and LIFO gross profit figures to differ? Print Done