The Devlin Corporation, a diversified distribution company, purchases cartons of canned tennis balls from the Questor Company and markets the balls under the Devlin brand name. Devlin started operations on January 1, 2020. In the table below, Quarter 1 represents the time period from January 1, 2020 to March 31, 2020 and Quarter 2 represents the time period from April 1, 2020 to June 30, 2020. Devlin began operations on January 1, 2020 with no inventory. Purchases and sales data for Devlin's first two quarters of business are shown below:

Quarter 1 Sales 76,000 cartons at $5.00 per carton Purchases January 18,000 cartons at $2.20 February 30,000 cartons at $2.40

Quarter 2 March 40,000 cartons at $2.80 Sales 86,000 cartons at $6.00 per carton Purchases April 26,000 cartons at $3.10 May 30,000 cartons at $3.50 June 24,000 cartons at $3.60

Calculate the Quarter 2 ending inventories (in dollars) using the LIFO inventory valuation method.

Calculate Quarter 2 GROSS PROFIT using the LIFO inventory valuation method.

Calculate the Quarter 2 ending inventories (in dollars) using the FIFO inventory valuation method.

Calculate Quarter 2 GROSS PROFIT using the FIFO inventory valuation method.