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In: Accounting

The following information is for the Mulligan Company for 2019. The company sells just one product:...

The following information is for the Mulligan Company for 2019. The company sells just one product:

Description Date Units Unit cost
Beginning Inventory 1/1 20 $58
Purchase: 2/12 50 $62
Purchase: 5/26 60 $64
Purchase: 6/15 70 $72
Sales: 3/18 60
Sales: 6/3 90

Mulligan Company sold products at a fixed price of $120 per unit during this period.

Calculate gross profit for 2019 using the periodic method and last-in, first-out method.

The gross profit is _____________. (provide a number with no dollar sign, no thousand separator.)

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