3. Cost of Sale / Ending inventory (24 marks) Giants Ltd began September with 80 units of inventory that cost $120 each. During September, the firm made the following purchases: Purchases Date Units Unit Cost 3 Sep 20 $100 15 Sep 60 $90 28 Sep 80 $80 Additional information: Giants Ltd uses the periodic inventory system and the physical count at 30 September indicates that 40 units of inventory are remaining on hand. Sales revenue for September totalled $25,000. Giant Ltd has not changed the price of selling merchandises during the month of September. The firm does not provide any trade discounts to their customers as well. Q3-1 Assume that the company uses the FIFO method, please calculate the amount of ending inventory at 30 September (4 marks)