1. The following information relates to Exeter Incorporation's Inventory purchases and sales data, for the year ended 2021: Beginning Inventory. ..800 units @$16 each January 10 Purchase. .1000 units @ $14.5 each February 15 Sales.. February 15 Sales Return. February 27 Purchase July 31 Purchase Return. July 15 Purchase July 31 Purchase. May 31 Sales ..1800 units @ $80 each .100 units @ $80 each ..2000 units @ $14 each .250 @ $15 each .1500 units@ $13 each .500 @ $15 each .1100 units @ $85 each November 5 Sales. December 30 Sales.. .1250 @ $85 each .1050 @ $85 each Required: Calculate the value of ending inventory on 31 December 2021 and the value of Cost of Goods sold using the following methods (Assume that the company used periodic inventory system): i. FIFO ii. LIFO 8 Marks