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Immersive Reader Edit Document - Print Q3. (15 Marks) Suppose a Winners in Vancouver, BC, ended November 2019 with 800,000 units of merchandise that cost an average of $8 each. Suppose the store then sold 600,000 units for $5.0 million during December. Further, assume the store made two large purchases during December as follows: December 6 100,000 units @ $7 = $ 700,000 26 400,000 units @ 6 = 2,400,000 a) On December 31, the store manager needs to know the store's gross profit under both FIFO and weighted-average cost. Supply this information. Winners uses the periodic inventory system. b) What caused the FIFO and weighted-average cost gross profit figures to differ? Answer: 91% Give Fee O a