5. R. & K. Company's beginning inventory and purchases during the fiscal year ended December 31, 20--, were as follows: Units Jan. 1- Beginning inventory Apr. 2- 1st Purchase Aug. 6 - 2nd Purchase Nov. 9 - 3rd Purchase MN Unit Price $12 $13 $14 $18 Total Cost $ 240 390 350 450 $1, 430 un u There are 20 units of inventory on hand at December 31, 20-- Required: 1. Calculate the total amount to be assigned to the ending inventory under each of the following methods: a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) 2. Assume the market price per unit (cost to replace) of the R. &. K. Company's inventory on December 31, was $16. Calculate the total amount to be assigned to the ending inventory on December 31, under each of the following methods: a. FIFO lower-of-cost-or-market b. Weighted average lower-of-cost-or-market