Question: Purchases and sales data for Devlin's first two quarters of business are shown below: Quarter 1 Sales 26,000 cartons at $50 per carton Purchases January

Purchases and sales data for Devlin's first two quarters of business are shown below: Quarter 1 Sales 26,000 cartons at $50 per carton Purchases January 8,000 cartons at $25 February 10,000 cartons at $28 March 12,000 cartons at $32 Quarter 2 Sales 50,000 cartons at $58 per carton Purchases April 12,000 cartons at $35 May 16,000 cartons at $38 June 20,000 cartons at $42

19. Calculate the Quarter 2 ending inventories (in dollars) using the LIFO inventory valuation method.

20. Calculate Quarter 2 GROSS PROFIT using the LIFO inventory valuation method.

21. Calculate the Quarter 2 ending inventories (in dollars) using the FIFO inventory valuation method.

22. Calculate Quarter 2 GROSS PROFIT using the FIFO inventory valuation method

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