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Inventory information for Part 311 of Bonds Corp. discloses the following information for the month of June: June 1 Balance 450 units @ $1.00 June 10 Sold 300 units @ $2.40 June 11 Purchased 1,200 units @ $2.00 June 15 Sold 750 units @ $2.50 June 20 Purchased 750 units @ $3.00 June 27 Sold 450 units @ $2.70 Required (a) Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. To complete the requirements of (a) label the parts as follows: (a1)LIFO - periodic -ending inventory (22) FIFO - periodic - ending inventory (a11) LIFO - periodic-cost of goods sold (a22) FIFO-periodic-cost of goods sold (b) Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory under LIFO? To complete the requirements of (b) label the part as follows: (b) LIFO - perpetual (C) Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of ending inventory under FIFO? To complete the requirements of (c) label the part as follows: (c) FIFO - perpetual (d) What is the gross profit under FIFO and why is it stated that FIFO usually produces a higher gross profit than LIFO? To complete the requirements of (d) label the parts as follows: (d) FIFO gross profit Id 1) FIFO & UFO gross profit