1. Compute the December 31, 2020, inventory using the FIFO method. (Round per unit and final answer to 2 decimal paces, e.g. 35.57.)

2. Compute the 2020 cost of goods sold using the LIFO method. (Round per unit and final answer to 2 decimal paces, e.g. 35.57.)

Sheffield Sports began operations on January 2, 2020. The following stock record card for footballs was taken from the records at the end of the year. Date Voucher 1/15 10624 3/15 11437 6/20 21332 9/12 27644 11/24 31269 - Units Terms Received Net 30 1/5, net 30 1/10, net 30 107 1/10, net 30 1/10, net 30 Gross Unit Invoice Invoice Cost Amount $28 $1,876 23 1,886 212,247 1,717 1,488 $9.214 Totals A physical inventory on December 31, 2020, reveals that 111 footballs were in stock. The bookkeeper informs you that all the discounts were taken. Assume that Sheffield Football Shop uses the invoice price less discount for recording purchases