(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 1/15/XX $9 per Widget $10 per Widget Purchase 150 Widgets 250 Widgets 600 Widgets 2/15/XX Purchase 3/15/XX $11 per Widget Sell 3/20/XX 400 Widgets 300 Widgets $15 per Widget $15 per Widget Sell 3/25/XX Points 1 FIFO Inventory LIFO Inventory 1 FIFO Gross Profit 1 LIFO Gross Profit 1