$[$The following information applies to the questions displayed below.$]$

Suppose that David has elected to account for inventories and has adopted the last$-$in$,$ first$-$out $($LIFO$)$ inventory$-$flow method for his business inventory of widgets $($purchase prices below$).$

$\backslash$table$[[$Widget$,\backslash$table$[[$Purchase$],[$Date$]],\backslash$table$[[$Direct$],[$Cost$]],\backslash$table$[[$Other$],[$Costs$]],$Total Cost$],[$Number $1,$August $15,$$$2,100,$$$100,$$$2,200$