DatePurchases07-Jan25 units @ $7,500 each15-Mar35 units @ $8,000 each16-Jun15 units @ $8,250 each03-Aug45 units @ $8,500 each1 1 -Oct12 units @ $8,600 eachSales for this first year of
operation amounted to 105 units and totaled $1,365,000.If TopFlight uses the first-in,
first-out (FIFO) inventory method (periodic approach), what values
would be assigned to ending inventory and cost of goods sold? How
much is gross profit?If TopFlight uses the last-in,
first-out( LIFO) inventory method' (periodic approach), what values
would be assigned to...