Topanga Group began operations early in $2024.$ Inventory purchase information for the quarter ended March $31,2024,$ for Topanga$$s only product is provided below. The unit costs include the cost of freight. The company uses a periodic inventory system to report inventory and cost of goods sold.

Date of Purchase Units Unit Cost Total Cost

January $73,000$ $ $2\mathrm{.}00$ $ $6,000$

February $1619,0003\mathrm{.}0057,000$

March $2223,0004\mathrm{.}0092,000$

Totals $45,000$ $ $155,000$

Sales for the quarter, all at $$7$ per unit, totaled $28,000$ units leaving $17,000$ units on hand at the end of the quarter.

Required:

Calculate Topanga's cost of goods sold for the first quarter using:

$-$FIFO

$-$LIFO

$-$Average cost

$-$Calculate Topanga's gross profit ratio for the first quarter using FIFO, LIFO, and Average cost.