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Use the following data to answer the next three questions. Each answer is worth 5 points. Inventory purchase and sales data for Casper Company are as follows. Casper Company uses a periodic inventory system. (Note: There was no inventory before the purchase made on February 4.) Purchased on February 4 -- 100 units, $9 cost per unit Purchased on February 9 -- 200 units, $6 cost per unit Purchased on February 25 -- 200 units, $7 cost per unit Sold on February 18 -- 225 units, $10 selling price per unit Question 1: The company uses AVERAGE COST. Compute ENDING INVENTORY for February. Write the dollar amount of your answer (do not write the dollar sign). Ending Inventory using Average Costs and a Periodic Inventory System: For the next two questions, now assume Casper Company uses a PERPETUAL inventory system. Question 2: Assume that the company uses FIFO. Compute GROSS PROFIT for February. Write the dollar amount of your answer (do not write the dollar sign). Gross Profit using FIFO Costs and a Perpetual Inventory System: Question 3: Assume that the company uses LIFO.

Compute COST OF GOODS SOLD for February. Write the dollar amount of your answer (do not write the dollar sign). Cost of Goods Sold using LIFO Costs and a Perpetual Inventory System:

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