Linda’s Lampshades started business on Jan. 1, 20X1. They had the followin

Linda’s Lampshades started business on Jan. 1, 20X1. They had the following inventory transactions:Journals – Jan. 20X1PurchasesSupplier         Date Received         Quantity        Unit Cost       AmountDonna           01/10/X1                110              12.00            1320.00Thomas         01/15/X1                160              14.00             2240.00Cindy            01/18/X1                150              15.00            2250.00SalesCustomer      Date shipped    Quantity      Sel. Price                Amount         Norilene        01/16/X1         200                  25.00                   5000.001.    Calculate the ending inventory, using the perpetual inventory method: A.     Using FIFOB.     Using LIFOC.     Using Average Cost2.    Prepare the following statement             Using                                      FIFO    LIFO        Average CostSalesCost of Sales          Gross ProfitPlease use excel sheet to create answer.

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