The Griggs Company is a multi-product firm. Presented below is information concerning one of their products for the year.

Date	Activity	Units Purchased	Cost/Unit	Total Cost
January 1	BI	1,000	$12	$12,000
February 4	Purchase	2,000	$18	$36,000
February 20	Sale	2,500	$23	$57,500 ($57,500 / 2,500 = $23)
April 20	Purchase	3,000	22	$66,000
November 14	Sale	2,000	???? (give formula, not just answer)	???? (give formula, not just answer)

Instructions:

Determine both Ending Inventory (EI) and Cost of Goods Sold (COGS) under each of the following methods.

Next, calculate gross profit under each, assuming that the selling price per unit was:

$23 for goods sold on February 20, and

$30 for units sold on November 14

***Give formulas, not just answers, please. Thank you.***

Method	EI	COGS	Gross Profit
FIFO, periodic
FIFO, perpetual
LIFO, periodic
LIFO, perpetual
Weighted-average
Moving-average