USE THE FOLLOWING INFORMATION TO ANSWER QUESTIONS 34-37 The Hester Corporation, a diversified distribution company, purchases cartons of canned golf balls from the Long Distance Company and markets the balls under the Hester brand name. Hester started operations on January 1, 2022. In the table below, Quarter 1 represents the time period from January 1, 2022 to March 31, 2022 and Quarter 2 represents the time period from April 1, 2022 to June 30, 2022. Hester began operations on January 1, 2022 with no inventory. Purchases and sales data for Hester's first two quarters of business are shown below: Quarter 1 Sales Purchases 80,000 cartons at $8.00 per carton January February March Quarter 2 Sales Purchases April May June 20,000 cartons at $5.00 35,000 cartons at $5.10 40,000 cartons at $5.40 168,000 cartons at $9.00 per carton 47,000 cartons at $5.60 50,000 cartons at $5.70 60,000 cartons at $6.00 34. Calculate the Quarter 2 ending inventories (in dollars) using the LIFO inventory valuation method. 35. Calculate Quarter 2 GROSS PROFIT using the LIFO inventory valuation method. 36. Calculate the Quarter 2 ending inventories (in dollars) using the FIFO inventory valuation method. 37. Calculate Quarter 2 GROSS PROFIT using the FIFO inventory valuation method.