(4 Points) SHOW YOUR WORK Determine the Ending Inventory and Gross Profit using FIFO and LIFO for the quarter ending 3//31//XX for Company W (a widget reseller) based on the following information (Inventory on 1//14//XX=0 ): Action Date Amount " Cost "_ Purchase quad1//15//XXquad150 Widgets $9 per Widget Purchase quad2//15//XXquad250 Widgets $10 per Widget Purchase quad3//15//XXquad600 Widgets $12 per Widget Sell quad3//20//XXquad400 Widgets $15 per Widget Sell quad3//25//XXquad300 Widgets $15 per Widget FIFO Inventory LIFO Inventory FIFO Gross Profit LIFO Gross Profit Points 1 1 1 1

(4 Points) SHOW YOUR WORK Determine the Ending Inventory and Gross Profit using FIFO and LIFO for the quarter ending 3/31/XX for Company W (a widget reseller) based on the following information (Inventory on 1/14/XX=0 )