uppose a store in $,$Missouri$,$ ended with units of merchandise that cost each. Suppose the store then sold units for during $.$Further$,$ assume the store made two large purchases during as$$ follows:

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Part $1$

Requirement $1.$ Calculate the$$ store's gross profit under both FIFO and LIFO at $.$

FIFO

LIFO

Sales revenue

$930,000$

$930,000$

Cost of goods sold

Gross profit