Assume that Java Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory:

View the transactions.

Read the requirements.

weighted$-$average cost per unit to the nearest cent and all other amounts to the nearest dollar.$)$

Begin by determining ending merchandise inventory and cost of goods sold under each of the three methods.

Requirement $1.$

FIFO

Transactions

Requirements

Compute ending merchandise inventory, cost of goods sold, and gross profit

using the FIFO inventory costing method.

Compute ending merchandise inventory, cost of goods sold, and gross profit

using the LIFO inventory costing method.

Compute ending merchandise inventory, cost of goods sold, and gross profit

using the weighted$-$average inventory costing method. $($Round weighted$-$

average cost per unit to the nearest cent and all other amounts to the

nearest dollar.$)$