Suppose a Waldorf store in Greendale, Missouri, ended September $2018$ with $700,000$ units of merchandise that cost

$$4$ each. Suppose the store then sold $100,000$ units for $$850,000$ during October. Further, assume the store made

two large purchases during October as follows:

$($Click the icon to view the purchase information.$)$

Read the requirements.

Requirement $1.$ Calculate the store's gross profit under both FIFO and LIFO at October $31.$

Data table