Compute the cost assigned to ending inventory using

$($a$)$ FIFO,

$($b$)$ LIFO,

$($c$)$ weighted average, and

$($d$)$ specific identification.

$($For specific identification, units sold consist of $680$ units from beginning inventory, $220$ from the February $10$ purchase, $100$ from the March $13$ purchase, $80$ from the August $21$ purchase, and $260$ from the September $5$ purchase.$)$

Compute gross profit earned by the company for each of the four costing methods.

Note: Round your average cost per unit to $2$ decimal places.

The company$$s manager earns a bonus based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager?

multiple choice

FIFO

Specific Identification