Inventory Costing Methods Date Item Quantity Cost Per Unit Total 1-May Beginning Inventory 30 $17.00 $510.00 8-May Purchase 28 $18.00 $504.00 15-May Purchase 42 $19.00 $798.00 22-May Purchase 10 $22.00 $220.00 29-May Purchase 50 $26.00 $1,300.00 Sold 135 Units @ $37 each SalesFIFO Date Item Quantity Cost Per Unit Total Ending Inventory Income Statement Sales Cost of Goods Sold Gross Profit Gross Profit %= = => Operating Expenses $1,400.00 Net IncomeLIFO Date Item Quantity Cost Per Unit Total Ending Inventory Income Statement Sales Cost of Goods Sold Gross Profit Operating Expenses $1,400.00 Gross Profit %= = => Net IncomeAVERAGE COST Average Cost Per Unit= Cost of Goods Sold=== Ending Inventory=zz= Income Statement Sales Cost of Goods Sold Gross Profit Operating Expenses $1,400.00 Gross Profit %= => Net Income