ACCT$301$A $-$ Inventory Cost Flow

$(3$ points extra credit$)$ The board of directors of Chargers plans to instruct the accounting department to

justify the basis of pricing inventories. Chargers management wants to find the method under which they

can report higher gross profit. The following is a record of transactions for the month of Oct $2014.$

$($Periodic inventory system$)$ Assuming that perpetual inventories are not maintained and that a

physical count at the end of the month has been completed. What is the cost of goods sold, the cost of

the ending inventory, and the gross profit using FIFO and LIFO? Fill in the blanks below.

Supporting work: