3. Given the following data, what is the value of the cost of goods sold as determined by the FIFO method? Sales revenue 550 units at $17 per unit Purchases 240 units at $10 per unit Beginning inventory 320 units at $9 per unit 4. Given the following data, what is the value of the ending inventory as determined by the FIFO method? Sales revenue Purchases 600 units at $25 per unit 440 units at $14 per unit 320units at $11 per unit Beginning inventory