The inventory records for Thrifter Company reflected the following

a. Determine the amount of cost of goods sold for the month of May assuming the LIFO cost flow method. b. Determine the amount of ending inventory at May 31 assuming the FIFO cost flow method. c. Determine the amount of gross margin for the month of May assuming the FIFO cost flow method.

Beginning inventory @ May 1 100 units @ $4.00 First purchase @ May 7 Second purchase @ May 17 Third purchase @ May 23 300 units @ $4.20 500 units @ $4.60 100 units @ $4.80 900 units @ $7.80 Sales @ May 31