3. Last-In, First-Out (LIFO) In-class example: Mario's Game Shop: Refer to the inventory records below for Mario's Game Shop for each of the four inventory cost methods presented. Date Jan. 1 Apr. 25 Oct. 19 Jul. 17 Dec. 15 Dec. 31 Transaction Beginning inventory Purchase Purchase Total available for sale Sale Sale Total units sold Ending inventory Number of Units 100 300 600 1,000 300 500 800 200 Unit Cost $ 7 9 11 $ Total Cost 700 2,700 6,600 $10,000 a. What would be the cost of goods sold (COGS) that would be reported on the income statement using the LIFO method