The following is the inventory record of widgets for the ABC Company: Units Cost/Unit $ 10.00...

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The following is the inventory record of widgets for the ABC Company: Units Cost/Unit $ 10.00 $11.00 1/1 Beginning Inventory 100 4/15 Purchase 200 8/24 Purchase 11/27 Purchase 300 $12.00 400 $13.00 At the end of the fiscal year, the physical inventory found 450 widgets on hand at 12/31. Total sales for the year were 500 widgets sold at a retail price of $20.00 per widget. REQUIRED a) Calculate the ending inventory value under each of the following inventory methods: i. FIFO ii. LIFO iii. Weighted Average b) Calculate the gross profit for each of the inventory methods. The following is the inventory record of widgets for the ABC Company: Units Cost/Unit $ 10.00 $11.00 1/1 Beginning Inventory 100 4/15 Purchase 200 8/24 Purchase 11/27 Purchase 300 $12.00 400 $13.00 At the end of the fiscal year, the physical inventory found 450 widgets on hand at 12/31. Total sales for the year were 500 widgets sold at a retail price of $20.00 per widget. REQUIRED a) Calculate the ending inventory value under each of the following inventory methods: i. FIFO ii. LIFO iii. Weighted Average b) Calculate the gross profit for each of the inventory methods.