1. RECO begins operations in 2008 and uses the periodic inventory method and LIFO costing RECO's 2009 merchandise purchases are as follows Units Purchased 600 900 1,100 +1,600 4,200 Unit Cost $5 6 Total Cost March 25 June 3 August 17 December 2 Total $3,000 5,400 8,800 +17,600 $34,800 RECO's year-end physical count of inventory finds 1,000 units. Compute RECO's 2009 ending inventory Compute RECO's 2009 cost of goods sold a. b. 2. On December 31, 2008, FICO shows the following data for ending inventory a. Determine market for each item b. Compute ending inventory applying LCM item by item Replacement Selling Price Disposal Cost Normal Mark-up Item Cost Cost $320 $310 $450 $35 450 370 500 40 100 225 200 325 80 60 300 270 380 40 50 460 560 600 50 100