16 1. Following is an inventory acquisition schedule for ABC CO. for 2020: Unit Units Cost Bog. Inventory 500 $ 13 Purchases: Feb. 4 300 15 400 200 15 Dec. 5 100 18 During the year, ABC sold 1150 units at $22 cach. Compute the cost of goods sold (COGS) and ending inventory under each of the following three methods (assume a periodic inventory system): (a) simple weighted average, (b) FIFO, () LIFO, and make the necessary adjusting journal entries. Apr. 12 Sept. 10