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Date Quantity Unit Cost Total Cost Mar. 1 850 $98 1,275 $95 $83,300 $121,125 $63,700...

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Accounting

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Date Quantity Unit Cost Total Cost Mar. 1 850 $98 1,275 $95 $83,300 $121,125 $63,700 Mar. 8 650 $98 Mar. 11 325 $98 $31,850 Mar. 14 325 $98 $31,850 780 $103 $80,340 $25,480 Mar. 22 260 $98 Mar. 25 260 $98 $25,480 1,500 $102 $153,000 Study the invent record for March and answer the questions that follow, 1. Assuming that the product sells for $150 and that 80% of sales are on account, determine the gross profit from sales for March $ X 2. Making the same assumptions as in (1), determine the ending inventory cost for March 3. Which inventory method is being used? LIFOV

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