4 Partially correct Mark 0.63 out of 3.75 Flag question Edit question transcript Computing Cost of Goods Sold and Ending Inventory Under FIFO, LIFO, and Average Cost Assume that Gode Company reports the following initial balance and subsequent purchase of inventory: Beginning inventory 2,500 units @ $100 each $250,000 Inventory purchased during the year 5,000 units @$150 each Cost of goods available for sale 7,500 units 750,000 $1,000,000 eBook A Print Assume that 4,250 units are sold during the year. Compute the cost of goods sold for the year and the balance reported as ending inventory on its year-end balance sheet under the following inventory costing methods: (Round your answers to the nearest dollar.) a. FIFO Cost of Good Sold Ending Inventory b. LIFO Cost of Good Sold Ending Inventory $ 112,500 x $ 887,500 x $ 887,500 x $ 112,500 x c. Average Cost (Hint: Do not round the cost per unit.) Cost of Good Sold Ending Inventory Previous $ 566,666 $ 566,666 * Finish review