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

Required

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

Compute the number of units in ending inventory.

Compute the cost assigned to ending inventory using $($a$)$ FIFO, $($b$)$ LIFO, $($c$)$ weighted average, and $($d$)$ specific identification. $($Round all amounts to cents.$)$

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

Analysis Component

$5.$ 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?

Problem $5-4$AA

Periodic: Alternative

cost flows

P$3$