Using the following information, calculate gross profit and ending inventory using a)

FIFO, b) LIFO, and c) weighted-average cost methods under an inventory system that

uses specific identification. The company sold 2 units for $50 each on August 27.

Date Units Cost/unit Total Cost

Aug. 10 Purchase 2 $11 $22

12 Purchase 2 $15 30

14 Purchase 2 $22 44

Total 6 $96