RVICES Lesson 6 Merchandise Inventory Problem 1 Using a perputal inventory system, complete the following tasks using the below information: Task 1: Compute the costs of good available for sale and number of units available for sale Task 2: Compute the cost assigned to ending inventory using FIFO LIFO Weighted average Specific Identification Compute the gross profit earned for each of the four costing methods above. Task 3: Beginning inventory Purchase Sale I Purchase Purchase 100 units 400 units 420 units 120 units 200 units 160 units $50 per unit $55 per unit $85 per unit $60 per unit $62 per unit $95 per unit Task 1 Compute cost of goods available for sale and units available for sale Unit Total Cost Cost # units] 150 .5000 inventory :22.ODO Purchase-HOO : @ 5 Purchase 20LO se 2120 @ leh in.uoo . : Units available 20 Cost of goods available for sale TASK 2: LIFO Perpetual Lesson 6 Merchandise Inventory Goods Purchased Cost of Goods Sold Total Units Cost Total Units Cost Total Cost Units AL