wing Enabled ACC Cowboy Ice Cream Company (CIC) had the following purchases of ice cream bars for Year 1 of operations: Jan 20 Purchased Purchased July 25 Purchased Sept. 19 Purchased 330 units 30 units 220 units 98 units $.4 $1,320 56 680 58 1,760 $10 - 200 During the year. CIC sold 530 ice cream bars for $15 each 20 Required a. Compute the amount of ending inventory CC would report on the balance sheet, assuming the following cost flow assumptions: (1) FIFO, 2) LIFO, and (3) weighted average b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions. Complete this question by entering your answers in the tabs below. Required Required B During the year. CC sold 530 ice cream bars for $15 each Required a. Compute the amount of ending inventory CIC would report on the balance sheet, assuming the following cost flow assumptions: (1) FIFO (2) LIFO, and (3) weighted average. b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions Complete this question by entering your answers in the tabs below. Required Required Compute the amount of ending inventory CIC would report on the balance sheet, assuming the following cost flow assumptions (1) FIFO, (2) UFO, and (5) weighted average. (Round intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) Ending inventory FIFO UFO Weighted Average 5 700 $ 530 $ 6 Required B > During the year, CIC sold 530 ice cream bars for $15.each Required & Compute the amount of ending inventory CIC would report on the balance sheet, assuming the following cost flow assumptions: (1) FIFO (2) LIFO and (3) weighted average b. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions Complete this question by entering your answers in the tabs below. Required a Regleda Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions. FIFO LIFO Difference 5 51907 5358075 1.610