5 Assume The beginning inventory as of Janusry 1 consisted of 500 units that were During the month, three new purchases were made The first purchsse consisted of 700 units costing $8.50 each The second purchase had 800 units costing 59.00 each The third purchase had 600 units costing 59.50 each At the end of the month, ending inventory shows parchased for S8.25 each 700 units Compute the cost of goods sold and the ending inventory for the company using each of the folowing methods a. First-in, first-out (FIFO b. Last-in, first-out (LIFO) e. Specific identification: or the units sold, 300 were from the beginning inventory, 600 from the first purchase, 700 from the second parchase, and 300 from the third purchase. d. Weighted-average (round the unit price) a. FIFO Inventory Method Cost of Ending Inventory Cost of Goods Sold Unit Price Date Unit Price Total Total 20-2 Units 1st purchase 2nd purchase 3rd purchase Total Cest of goeds of good Cost of onding cos er