Problem $5-4$A Periodic: Alternative cost flows P$3$

Refer to the information in Problem $5-3$A and assume the periodic inventory system is used.

Required

Analysis Component

$1.$ Compute cost of goods available for sale and the number of units available for sale.

$2.$ Compute the number of units in ending inventory.

$3.$ Compute the cost assigned to ending inventory using $($a$)$ FIFO, $($b$)$ LIFO, $($c$)$ weighted average, and $($d$)$

specific identification. $($Round all amounts to cents.$)$

$4.$ Compute gross profit earned by the company for each of the four costing methods in part $3.$

$5.$ The company$$s manager earns a bonus based on a percentage of gross profit. Which method of inventory

costing produces the highest bonus for the manager?