. The following represents the inventory of Rajan Company for the month of April:

April 1	Beginning Inventory	100 units @ $8
April 2	Sales	50 units
April 3	Purchases	300 units @ $12
April 10	Sales	250 units
April 21	Purchases	400 units @ $16
April 28	Sales	200 units

a. Assuming a periodic inventory system is used by Rajan Company, what is ending inventory under LIFO?

b. Assuming a periodic inventory system is used by Rajan Company, what is ending inventory under the Weighted-Average Cost method?

c. What is the gross margin for a and b and c above? Assume all units were sold for $40 per unit.