48 Units@ $19 $912 48 Units @$15= $720 Inventory, December 31, using FIFO Inventory, December 31, using LIFO Transactions in the Following Unit Total Year Units Cost Cost 1,200 2,310 Purchase, January 9 Purchase, January 20 Sale, January 11 (at $43 per unit) Sale, January 27 (at $44 per unit) 60 20 110 21 90 66 Requlred: 1. Compute the number and cost of goods avallable for sale, the cost of ending Inventory, and the cost of goods sold under FIFO and LIFO. 2. Compute the Inventory turnover ratlo under the FIFO and LIFO Inventory costing methods. 3. Does the Inventory method used make a significant difference In the Inventory turnover ratio? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the number and cost of goods available for sale, the cost of ending inventory, and the cost of goods sold under FIFO and LIFO FIFO LIFO Number of Goods Available for Sale (Units) Cost of Goods Available for Sale 326 326 4,230 1,302 Cost of Ending Inventory 3,120 Cost of Goods Sold